Quantum Computing Inc. announced on December 15, 2025, that it has signed an agreement to acquire Luminar Semiconductor, Inc. (LSI), a wholly owned subsidiary of Luminar Technologies, Inc., in an all-cash transaction valued at USD 110 million, subject to customary adjustments. The acquisition aims to bring QCi a portfolio of core photonic technologies, patents, and a highly experienced team of engineers and scientists that will accelerate QCi's roadmap while continuing to support and grow LSI's established customer base.

Strategic Technology Integration

LSI manufactures and sells a portfolio of photonic components that are important building blocks on QCi's technology roadmap. The acquisition will bring LSI's components, patents, and talent into QCi, strengthening the Company's supply chain, substantially increasing the engineering depth of its workforce, and accelerating the advancement of compact, fully-integrated quantum systems for commercial deployment.

Yuping Huang, CEO and Chairman of the Board of QCi, stated that the acquisition represents a meaningful step forward in the company's strategy to develop and scale practical, integrated quantum solutions. According to Huang, the post-closing revenue opportunity will be two-fold: to serve and expand LSI's current non-quantum customer base and to utilize LSI's technology and products to drive the commercialization of quantum appliances in QCi's targeted markets.

Employee Retention and Investment Plans

QCi has indicated that LSI employees are a highly valued component of the deal, with the company planning to provide attractive career opportunities and competitive compensation to those who remain with the company. Huang expressed belief that LSI's current customer base will benefit from QCi's ownership, noting that QCi is in a strong position to invest immediately in LSI's R&D, product development, and manufacturing capabilities.

Paul Ricci, CEO of Luminar, described LSI as a high-quality business with significant long-term potential, stating that the transaction with QCi provides the investment and strategic vision needed to realize that potential. Ricci noted that by bringing together QCi's and LSI's complementary capabilities and engineering strengths, they will be able to bring innovations to market faster and better serve their customers across a broad set of advanced photonics and sensing applications.

Bankruptcy Court Approval Process

Concurrent with the acquisition announcement, LSI's parent company Luminar announced that it has initiated voluntary chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. LSI is not a debtor in Luminar's chapter 11 cases and is operating in the ordinary course. Because LSI is a subsidiary of Luminar, the transaction will require the approval of the bankruptcy court pursuant to a Section 363 sale process.

QCi has agreed to serve as the stalking horse bidder for LSI in connection with the bankruptcy cases and, in that capacity, will be entitled to customary bid protections. The parties anticipate closing the transaction subject to the satisfaction of customary closing conditions, including receipt of bankruptcy court approval, which they expect to receive by the end of January 2026.

Company Background and Technology Focus

Quantum Computing Inc. is described as an innovative, quantum optics and integrated photonics technology company that provides accessible and affordable quantum machines and foundry services for the production of photonic chips based on thin-film lithium niobate. QCi's products are designed to operate at room temperature and low power at an affordable cost.

The Company's portfolio of core technologies and products offers unique capabilities in high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications.

The acquisition is positioned to strengthen both organizations and accelerate QCi's technology roadmap to put quantum technology into the hands of people. Huang emphasized that the combination will position the company to better serve customers and accelerate technological advancement in the quantum computing sector.

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