Horizon Quantum to Go Public via $503 Million SPAC Deal with dMY Squared Technology Group

Dr. Joe Fitzsimons from Horizon Quantum Computing Pte. Ltd. announced the company’s definitive business combination agreement with dMY Squared Technology Group, valuing Horizon Quantum at approximately US$503 million and positioning the newly‑named Horizon Quantum Holdings Ltd. for a Nasdaq listing under the ticker HQ. The deal, slated to close in the first quarter of 2026, will provide Horizon Quantum with the capital to accelerate its hardware‑agnostic software platform that bridges quantum hardware and applications.

Horizon Quantum and dMY Squared Announce Business Combination to Go Public in US Nasdaq

Horizon Quantum Computing Pte. Ltd., a Singapore‑based developer of quantum‑computing software, and dMY Squared Technology Group, Inc., a publicly traded special‑purpose acquisition company, have entered into a definitive business‑combination agreement. Upon completion, the combined entity will be renamed Horizon Quantum Holdings Ltd. and its Class A ordinary shares will trade on Nasdaq under the ticker HQ. The transaction values Horizon Quantum at approximately US$503 million and is expected to close in the first quarter of 2026, subject to customary closing conditions and shareholder approval.

The deal is positioned to accelerate Horizon Quantum’s ambition to deliver a fully hardware‑agnostic software stack that bridges the gap between emerging quantum hardware and practical applications. Central to this vision is the company’s integrated development environment, Triple Alpha, which enables developers to author sophisticated quantum programmes in a portable format that can be deployed across diverse quantum processors. In addition, Horizon Quantum is advancing methods for the automatic generation of quantum‑accelerated solutions from conventional software, thereby lowering the barrier to entry for organisations seeking to exploit quantum advantage.

Horizon Quantum’s runtime environment, designed to execute real programme structures on a wide range of existing quantum hardware, supports general control flow, hybrid classical‑quantum execution, and dynamic resource management. The company has established a hardware testbed at its Singapore headquarters to refine this real‑time runtime, marking an early step toward a true quantum operating system. “By bringing together languages, compilers, and a cross‑hardware runtime environment, we are building the software infrastructure needed to achieve quantum advantage across a broad range of applications and laying practical groundwork for a true quantum operating system,” said Dr. Joe Fitzsimons, Founder and CEO of Horizon Quantum.

Harry You, Chairman and CEO of dMY Squared, underscored the strategic fit of the partnership: “We believe application development is a key component in driving broader adoption of quantum computers to address critical real‑world challenges. We are excited to be partnering with the Horizon Quantum team, under Joe’s visionary leadership, to help make their mission of a common quantum software platform a reality.” The transaction has received unanimous approval from the boards of both companies and will be overseen by a cadre of advisors, including Needham & Company, LLC as dMY Squared’s financial adviser, and legal counsel from Ellenoff Grossman & Schole LLP (Horizon Quantum), Rajah & Tann Singapore LLP (Singapore legal counsel), White & Case LLP (dMY Squared), and TCF Law Group, PLLC (Massachusetts legal counsel).

dMY Squared, led by Harry You—a former EVP of the Office of the Chairman at EMC and CFO of Oracle and Accenture—has a track record of taking technology companies public through its SPAC platform. Its portfolio includes IonQ, Rush Street Interactive, Genius Sports, and Planet Labs, and it has been active in the SPAC market since 2015. The combination with Horizon Quantum is expected to provide the capital and market visibility required to expedite the development of quantum‑computing software that can harness the rapidly advancing capabilities of quantum hardware.

503 Million Dollar Valuation Positions Horizon Quantum to Accelerate Quantum Software Development

In a definitive business‑combination agreement announced on 12 September 2025, Horizon Quantum Computing Pte. Ltd. and dMY Squared Technology Group, Inc. have agreed to merge, forming Horizon Quantum Holdings Ltd. The transaction, valued at roughly US$503 million, will see Horizon Quantum’s Class A ordinary shares listed on Nasdaq under the ticker HQ once the deal closes, projected for the first quarter of 2026.

The capital infusion that accompanies the SPAC‑led public listing is intended to fast‑track the company’s software agenda. Dr Joe Fitzsimons, Horizon Quantum’s founder and chief executive, said the move would broaden access to funding and shorten the development cycle for its quantum‑computing software stack, which includes the Triple Alpha integrated development environment and a cross‑hardware runtime. Harry You, chairman and chief executive of dMY Squared, highlighted that the partnership would support the creation of a common quantum software platform, a key driver for wider adoption of quantum processors.

Both boards have endorsed the transaction unanimously, and the deal will be subject to customary closing conditions, notably shareholder approval on both sides. The advisory team comprises Needham & Company, LLC as dMY Squared’s financial adviser, Ellenoff Grossman & Schole LLP and Rajah & Tann Singapore LLP for Horizon Quantum, and White & Case LLP and TCF Law Group, PLLC for dMY Squared. By going public, Horizon Quantum aims to secure the resources necessary to realise quantum advantage across a broad spectrum of applications, positioning it to deliver a fully hardware‑agnostic quantum computing software ecosystem.

Triple Alpha Integrated Development Environment Enables Hardware Agnostic Quantum Programming

Triple Alpha is Horizon Quantum Computing Pte. Ltd.’s integrated development environment, conceived by founder and chief executive Dr Joe Fitzsimons at the company’s Singapore headquarters. The platform is positioned as the central hub for writing, testing and deploying quantum computing software, allowing developers to author sophisticated quantum programmes without needing to tailor code to a particular processor.

The environment delivers a suite of tools that streamline the quantum software creation process. It offers a portable code editor, built‑in debugging facilities and simulation back‑ends, all of which operate in a hardware‑agnostic fashion. By abstracting the underlying quantum hardware, Triple Alpha lets programmers focus on algorithmic design rather than device‑specific constraints, thereby lowering the barrier to entry for conventional software developers.

Triple Alpha is a key component of Horizon Quantum’s broader software stack, which also includes a cross‑hardware runtime that manages general control flow, hybrid classical‑quantum execution and dynamic resource allocation. Together, the IDE and runtime form a cohesive ecosystem that bridges the gap between application developers and the rapidly evolving landscape of quantum processors. The platform’s design removes the need for deep quantum expertise, aligning with the company’s mission to make quantum computing accessible to a wider developer community.

The forthcoming business combination with dMY Squared Technology Group is expected to accelerate the refinement and deployment of Triple Alpha. The capital infusion associated with the SPAC deal will support Horizon Quantum’s continued investment in its quantum computing software infrastructure, positioning the company to deliver a fully hardware‑agnostic quantum software ecosystem in the near term.

Dr Joe Fitzsimons and Harry You Lead SPAC Deal to Provide Capital for Quantum Operating System Roadmap

Dr. Joe Fitzsimons, founder and chief executive of Horizon Quantum Computing Pte. Ltd., and Harry You, chairman and chief executive of dMY Squared Technology Group, Inc., have jointly announced a definitive business combination that will transform Horizon Quantum into a publicly listed entity under the name Horizon Quantum Holdings Ltd. The transaction, valued at approximately US$503 million, is structured as a special purpose acquisition company (SPAC) deal and will list the combined company on Nasdaq under the ticker symbol HQ.

dMY Squared, a SPAC sponsored by dMY Technology Group, has a track record of taking technology companies public, with prior successes including IonQ, Rush Street Interactive, Genius Sports and Planet Labs. Harry You, whose executive experience spans senior roles at EMC, Oracle and Accenture and who previously served as lead independent director of IonQ, brings a depth of SPAC expertise to the partnership.

The capital raised through the SPAC will be earmarked for the acceleration of Horizon Quantum’s roadmap to a fully functional quantum operating system. By injecting fresh resources, the company intends to expedite the development of its hardware‑agnostic quantum computing software stack, thereby shortening the time required to deliver a robust runtime environment that can orchestrate hybrid classical‑quantum workloads across diverse processors.

Both Horizon Quantum and dMY Squared have secured unanimous approval from their respective boards of directors, and the transaction is contingent upon customary closing conditions, notably the approval of shareholders on each side. The parties anticipate that the combination will close in the first quarter of 2026, after which the newly listed entity will begin trading under the HQ ticker.

With the infusion of capital, Horizon Quantum aims to solidify its position as a leader in quantum software infrastructure, positioning the company to capture early market share as quantum advantage becomes attainable. The partnership underscores the growing recognition that software development will be as critical as hardware innovation in unlocking the full potential of quantum computing.

Expected Close in First Quarter 2026 Signals Momentum for Quantum Software Market Expansion

The definitive business combination between Horizon Quantum Computing Pte. Ltd. and dMY Squared Technology Group, Inc. is slated to close in the first quarter of 2026, a timetable that has already begun to energise the quantum software sector. The transaction, valued at roughly US$503 million, will see Horizon Quantum become a publicly listed entity under the name Horizon Quantum Holdings Ltd., with its Class A ordinary shares trading on Nasdaq under the ticker symbol HQ. Dr. Joe Fitzsimons, founder and chief executive of Horizon Quantum, and Harry You, chairman and chief executive of dMY Squared, have jointly steered the deal, underscoring the alignment of a specialist quantum‑software developer with a SPAC that has a proven track record in the technology arena.

The closing of the transaction is contingent upon customary conditions, most notably the approval of shareholders on both sides. The boards of directors of Horizon Quantum and dMY Squared have already given unanimous consent, and the deal will proceed once the requisite shareholder votes are secured. This procedural clarity signals a high degree of confidence from investors and regulators alike, reinforcing the perception that the market is ready for a fully capitalised quantum‑software platform.

Once consummated, the influx of capital will accelerate Horizon Quantum’s roadmap to a complete quantum operating system. The company’s Triple Alpha integrated development environment, which offers a hardware‑agnostic interface for building quantum programs, will receive enhanced resources for scaling and optimisation. In parallel, the runtime environment—capable of executing real program structures on a broad spectrum of existing quantum processors, supporting general control flow, hybrid classical‑quantum execution, and dynamic resource management—will be further refined through the Singapore‑based hardware testbed. These developments are expected to reduce the time required to deliver a robust, cross‑platform quantum computing software stack that can orchestrate hybrid workloads across diverse processors.

The anticipated close in Q1 2026 therefore represents more than a corporate milestone; it signals a tangible acceleration of the quantum software market. By bringing Horizon Quantum into the public markets, the deal provides the liquidity and visibility necessary to attract further investment, foster partnerships, and accelerate the adoption of quantum computing software across industries. As quantum advantage becomes increasingly attainable, the availability of mature, hardware‑agnostic software will be pivotal in translating raw quantum capabilities into commercial applications. The transaction’s timing and scale suggest that market participants are ready to move from proof‑of‑concept to production‑grade quantum computing software, heralding a new phase of growth for the sector.