Insider Brief
- Horizon Quantum Computing and dMY Squared Technology Group announced a definitive business combination agreement to take Horizon Quantum public on Nasdaq under the ticker “HQ.”
- Horizon Quantum develops software tools such as its Triple Alpha platform and runtime environment that simplify quantum programming, automate quantum acceleration, and support execution across diverse hardware.
- The transaction, unanimously approved by both companies’ boards, is expected to close in the first quarter of 2026 pending shareholder approvals and customary conditions.
PRESS RELEASE — —Horizon Quantum Computing Pte. Ltd. (“Horizon Quantum”), a developer of advanced software tools that bridge the gaps between quantum hardware and applications, and dMY Squared Technology Group, Inc. (“dMY Squared”) (NYSE American: “DMYY”, “DMYY.U” and “DMYY.WS”), a publicly traded special purpose acquisition company sponsored by dMY Technology Group (“dMY Technology”), announced today that they have entered into a definitive business combination agreement. When the transaction closes, the publicly traded company will be named Horizon Quantum Holdings Ltd. and its Class A ordinary shares are expected to be listed on Nasdaq under the ticker “HQ”.
The anticipated quantum computing revolution could represent a significant technological shift, enabling machines to solve problems far beyond the limits of conventional computers. To date, much of the focus in the quantum computing industry has been on realizing the complex hardware necessary to implement quantum computation. No computer, however, is effective without software, and quantum computers are no exception. Recent and continuing advancements at the hardware level suggest that “quantum advantage” – the point at which quantum computing’s capabilities begin to surpass those of classical computing – could be achieved in the coming years.
Horizon Quantum’s software tech stack overcomes key barriers to effectively harness the growing capabilities of quantum computers:
- Simplifying the creation of quantum software – Horizon Quantum was founded with the goal of enabling developers to harness quantum computing to solve hard computational problems. It has built an integrated development environment, Triple Alpha, which provides powerful tools for creating sophisticated quantum programs in a portable, hardware agnostic, manner.
- Automating quantum acceleration – Quantum computers work in a fundamentally different manner from conventional computers, and any quantum advantage needs to come from exploiting quantum effects such as superposition and entanglement. Horizon Quantum is developing methods for automatically creating quantum-accelerated solutions starting from conventional software.
- Realizing the full potential of quantum programming even on today’s hardware – Horizon Quantum’s runtime environment executes real program structure on a wide range of existing quantum computer hardware, supporting general control flow, hybrid classical–quantum execution, and dynamic resource management. Horizon Quantum has established a hardware testbed at its Singapore headquarters to further develop a real-time runtime environment, as the initial steps towards a true quantum operating system.
“Quantum computing hardware is making rapid progress, but realizing the full potential of the technology to solve real-world challenges will require more than just hardware,” said Dr. Joe Fitzsimons, Founder and CEO of Horizon Quantum. “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.”
Dr. Fitzsimons continued, “By taking Horizon Quantum public now, we expect to significantly increase our access to capital and accelerate our technological development timeline to fully capitalize on the rapid advancements in quantum computing. We are thrilled to be partnering with the dMY Technology team, a SPAC sponsor with a proven track record of success and a long-time investor in the quantum computing market.”
Harry You, Chairman and CEO of dMY Squared, said, “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 goal of creating a quantum operating system and software stack is elemental and compelling from a technological and investment perspective.”
The transaction has been unanimously approved by the Board of Directors of dMY Squared, as well as the Board of Directors of Horizon Quantum, and is expected to close in the first quarter of 2026, subject to the satisfaction of customary closing conditions, including the approval of the shareholders of both dMY Squared and Horizon Quantum.
Advisors
Needham & Company, LLC, is serving as dMY Squared’s financial advisor. Ellenoff Grossman & Schole LLP is acting as legal counsel to Horizon Quantum and Rajah & Tann Singapore LLP is acting as Singapore legal counsel to Horizon Quantum. White & Case LLP is acting as legal counsel to dMY Squared and TCF Law Group, PLLC is acting as Massachusetts legal counsel to dMY Squared. ICR, LLC, is serving as dMY Squared’s strategic communications advisor.
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