More Quantum, QuantumCore acquires Avalanche PhotoniQ

QuantumCore (QNCR), a Canadian quantum computing hardware developer, has completed its acquisition of Avalanche PhotoniQ Inc., a developer of single-photon detector technology, according to a company statement.

The deal closed under a share purchase agreement effective September 9, 2026. The total purchase price is C$2.0 million, consisting of a C$1,070,000 cash payment made at closing and a C$930,000 milestone payment due upon the production of 100 qualifying detectors. The milestone payment may be satisfied in cash, QuantumCore common shares, or a combination of both.

Sellers may also receive a one-time earn-out payment of C$1.0 million if QuantumCore generates C$1.0 million in annual net revenue from qualifying detectors and related products during the earn-out period, bringing the potential total consideration to C$3.0 million.

Avalanche’s assets include an intellectual property portfolio, patent rights, and a single-photon detector design described as ready for commercial foundry production. The detector platform is based on semiconductor metasurface technology using nanoscale structures intended to achieve high photon absorption and timing resolution.