IBM acquires HRL Laboratories for quantum computing efforts

IBM said it will acquire quantum research company HRL Laboratories. Terms of the deal weren't disclosed.

HRL is jointly owned by Boeing and General Motors. Terms of the deal weren't disclosed.

According to IBM, HRL will bring research and expertise in silicon-spin qubit engineering. HRL also has research and intellectual property in other areas including data center cooling.

Big Blue is betting on quantum computing for future growth amid mixed performance from its core businesses. IBM reported second quarter earnings and CEO Arvind Krishna mentioned quantum computing multiple times as he fielded questions about enterprise technology demand.

"We are a leader in hybrid cloud. We are investing behind an AI opportunity that plays directly to IBM's strengths in data, orchestration and enterprise trust, and we continue to build leadership in Quantum. We remain confident in the growth opportunities ahead of us and our ability to capture them," said Krishna.

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HRL is a longer-term play, but the acquisition is designed to accelerate IBM's quantum roadmap. Jay Gambetta, IBM's Director of Research, said HRL will "strengthen IBM's long-term plans to deliver useful quantum computing to the world, bringing together advances across quantum computing, quantum sensing, and quantum networking."

According to IBM, HRL will bring the following:

• Research to industrialize quantum sensing.
• Provide research for new quantum materials for semiconductors and sensitive sensors.
• Round out IBM's existing research to fuel the company's quantum program.
• Provide expertise in advanced manufacturing and high-power communications and electronics.