Shares of quantum computing companies were mixed after IBM (IBM) unveiled plans to build a fault-tolerant quantum computer by 2029.

IonQ said Monday that it had agreed to acquire British quantum computing start-up Oxford Ionics in a deal valued at $1.075 billion. The transaction includes $1.065 billion in common stock and roughly $10 million in cash and is expected to close this year,

IonQ (IONQ) announced the acquisition of a UK rival Monday and unveiled results of a collaboration involving semiconductor titan Nvidia (NVDA). IonQ said Monday it reached a deal to acquire UK quantum computing firm Oxford Ionics in a $1.