Irish-founded Horizon Quantum Computing has been valued at around $500m in a new partnership deal.
The company has signed a non-binding letter of intent for a business combination with dMY Squared Technology Group, a publicly traded special purpose acquisition company.
The combined company is expected to be publicly listed.
Horizon builds software development tools to unlock the potential of quantum computing hardware.
Quantum computing uses quantum mechanics to solve problems too complex for traditional computers.
Quantum mechanics studies the behavior of nature at the scale of atoms and subatomic particles.
Horizon was founded by Irishman Dr Joe Fitzsimons and he will stay on as CEO of the new combined company.
"We are excited to partner with the dMY team because of their experience in enterprise hardware and software as well as their success as pioneers in the quantum computing industry," Dr Fitzsimons said.
"While quantum hardware continues to advance, the true revolution lies in enabling users to harness these powerful systems for solving real-world challenges," he added.
Harry You, Chairman of dMY Squared, said that quantum computing application development addresses a critical gap between advancing hardware capabilities and real-world implementation.
"We could not be more pleased and excited to work with Joe and his team at Horizon Quantum, who are working to create a common software platform across different quantum computing hardware approaches," Mr You said.
