$IONQ Announces Expansion in EU/Israel

From the quantum computing sector, I missed this story from about a week ago:

Yahoo/BusinessWire headline: IonQ Announces Expansion with First European and Israeli Entities

:pushpin: New wholly owned subsidiaries will support initiatives among European & Israeli customers and partners

:pushpin: Former IBM EU program director, Noam Zakay, to lead European business development and sales efforts throughout the region


COLLEGE PARK, Md., July 20, 2022–(BUSINESS WIRE)–IonQ (NYSE: IONQ), a leader in quantum computing, today announced the creation of its first European and Israeli entities in support of growing regional investments in quantum computing. The German and Israeli-based entities, IonQ GmBH and IonQ Israel LTD, will provide IonQ’s industry-leading quantum systems to various European companies, states, and governments.

“With our new German and Israeli presence, we believe IonQ is well positioned to support global commercial partners as they take advantage of our world-class, trapped-ion systems for a multitude of industries,” said Peter Chapman, President and CEO, IonQ. “By incorporating in Germany and Israel, we are taking steps to truly embed ourselves within the European and Israeli tech ecosystem, democratizing access to quantum and creating new pathways to pursue curiosity. We are being clear – IonQ has a long-term commitment to the regions.”

To lead the new German and Israeli entities, IonQ has hired Noam Zakay as its new Managing Director, IonQ GmBH. Noam joins IonQ after working as a Business Development Executive at IBM for nearly three decades, where he most recently served as the Program Director of IBM Quantum Europe. Noam is based out of Haifa, Israel and will oversee business development and sales throughout the region.

One more paragraph, from the above named Noam Zakay:

“Having been in the enterprise space for nearly thirty years – the last five of which was spent working on quantum initiatives – I can attest firsthand that quantum is not some far-fetched idea; rather, it’s here and being used by some of the world’s largest companies to redefine existing processes and develop creative solutions,” said Zakay. “IonQ is a globally recognized leader in the quantum space thanks to the utility it delivers, and I look forward to helping drive their business growth and adoption across the European region.”

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$IONQ daily chart has been rising the past 3 trading days. Still down from 8 JUN 22 when Needham initiated with a BUY and a $9.00 PT. Note that earnings in two weeks, 15 AUG 22 amc.