Honeywell International Inc. (NasdaqGS:HON) agreed to acquire Cambridge Quantum Computing Limited on June 8, 2021. Cambridge Quantum Computing Limited will combine with Honeywell Quantum Solutions and Honeywell International will hold 54% stake in the new company. The new company's name will be announced on a future date. Honeywell Chairman and Chief Executive Officer Darius Adamczyk will serve on the Board of Directors as Chairman of the new company. The new company will be led by Ilyas Khan, the Chief Executive Officer and Founder of CQC. Tony Uttley, currently the president of HQS, will serve as the new company's president. The combined company will employ more than 300, including about 160 from Honeywell. The transaction is subject to regulatory approvals and customary closing conditions and expected to be complete in the third quarter of 2021. J.P. Morgan Securities LLC acted as Honeywell's lead financial advisor for the transaction. Freshfields Bruckhaus Deringer LLP acted as legal advisor to Honeywell. BofA Securities, Inc. acted as financial advisor to Cambridge Quantum on this transaction. Gary Brown of Morrison & Foerster LLP acted as legal advisors, Merrill Lynch International acted as financial advisor to Cambridge Quantum.