Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
10.12.26
Pillsbury advised Elisity, Inc. on its agreement to be acquired by IonQ, a full-stack quantum platform and foundry. Elisity is a zero-trust security company that delivers identity-based microsegmentation for users, devices, workloads and AI agents to help contain lateral movement across networks.
The acquisition is expected to combine Elisity’s enterprise zero-trust platform with IonQ’s post-quantum cryptography and quantum key distribution capabilities, expanding its ability to identify and defend against current AI-related and emerging quantum threats.
The all-stock transaction is valued at up to $1.3 billion. It is expected to close in the fourth quarter of 2026, subject to customary closing conditions, including required regulatory approval.
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The Pillsbury deal team was led by Corporate partner Stanley Pierson and included counsel Mediha Ali, senior associate Grace Lee, and associates Ann Kim and Julia Ho-Gonzalez; Capital Markets partner Gabriella Lombardi; Executive Compensation & Benefits partner Colleen Lamarre and associate Jack Donham; Intellectual Property partner David Jakopin; Tax partner Brett Willis; Antitrust & Competition partner Michael Sibarium and attorney Evan Storm; International Trade partner Matthew Rabinowitz; and Insurance Recovery & Advisory senior associate Max Cardin.