D-Wave Systems announced a definitive transaction with DPCM Capital (NYSE: XPOA) aimed at advancing quantum computing technology. The deal is projected to generate up to $340 million in gross proceeds, enhancing D-Wave's market presence and innovation capabilities. The combined company will have a market cap of approximately $1.6 billion and plans to list under the new symbol "QBTS". Post-transaction, D-Wave aims to accelerate its quantum application delivery and expand its global footprint in the sector.
DPCM Capital (NYSE: XPOA) and Jam City have mutually agreed to terminate their business combination agreement due to current market conditions. Both companies believe this is the best decision for their respective shareholders. DPCM Capital plans to explore alternative business combinations moving forward.
DPCM Capital, a special purpose acquisition company, aims to merge or acquire businesses and debuted on the NYSE on October 23, 2020. This decision reflects a strategic pivot amid market challenges.
Jam City has announced a definitive merger agreement with DPCM Capital (NYSE: XPOA), valuing the combined entity at $1.2 billion. Following the merger, the company will operate as Jam City Holdings, with its Class A common stock listed under the ticker JAM. The deal includes a $175 million acquisition of Montreal-based mobile game publisher Ludia, enhancing Jam City's portfolio of top-grossing games. The transaction aims to leverage synergies and capitalize on the growing mobile gaming market, projected to exceed $205 billion by 2023.