By Reuters | Updated: October November 3, 2025
Nov 3 (Reuters) – Xanadu Quantum Technologies will go public in the United States through a merger with blank-check firm Crane Harbor Acquisition Corp (CHAC.O) in a $3.6 billion deal, the companies announced on Monday.
The Canadian quantum computing firm expects to fetch nearly $500 million through the SPAC deal.
Quantum computers are widely regarded to have the potential to solve problems beyond the capability of classical computers. The deal also comes at a time when corporations and governments are racing to secure compute capacity for scaling AI projects.
Morgan Stanley acted as financial advisor for Xanadu, while JonesTrading was the capital markets advisor for Crane Harbor.
Reporting by Arasu Kannagi Basil and Ateev Bhandari in Bengaluru; Editing by Leroy Leo
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