Dmy Squared Technology Group
A definitive business combination agreement between Horizon Quantum Computing Pte. Ltd., a leading developer of cutting-edge software development tools for quantum computers, and dMY Squared Technology Group, Inc. (NYSE American: DMYY), a publicly traded special purpose acquisition company, will allow the company to go public in the United States. Following a non-binding letter of intent signed on February 26, 2025, this deal is anticipated to greatly speed up Horizon Quantum’s development of the software infrastructure essential to enabling quantum computing in the future.
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Bridging the Quantum Gap with Innovative Software
In the rapidly developing field of quantum computing, Horizon Quantum Computing is leading the charge to tackle a significant obstacle: the difficulty of converting practical issues into quantum solutions. In order to streamline and accelerate the creation of software for quantum computers, the business is developing a new generation of programming tools. Together with compilers and a runtime environment, these tools seek to increase the capabilities of current quantum computers so that any software developer, regardless of past familiarity with quantum computing, can benefit from their capabilities.
The Triple Alpha platform, an integrated development environment that offers strong capabilities for building complex quantum applications in a portable and hardware-agnostic way, is a key component of Horizon Quantum’s technological stack. The company’s creative strategy concentrates on a few crucial areas to get past obstacles in using quantum computers:
Simplifying software creation: Giving programmers the tools they need to efficiently construct quantum software.
Automating quantum acceleration: Using quantum effects like superposition and entanglement to automatically generate quantum-accelerated solutions from traditional software is known as automating quantum acceleration.
Maximizing current hardware potential: Its runtime environment supports generic control flow, hybrid classical-quantum execution, and dynamic resource management while executing entire program structures on a variety of current quantum computer hardware.
Similar to the rise of Windows and DOS in classical computing, these developments are setting the groundwork for what may turn out to be the first quantum operating system in history. Turing-complete languages, C/C++ subroutines, and code portability are among the company’s primary competencies. The leadership team of Horizon Quantum, which was founded in 2018 by Dr. Joe Fitzsimons, a former professor with twenty years of experience in quantum computing, also includes Dr. Si-Hui Tan, Chief Science Officer, who has an MIT Ph.D. in Physics.
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Transaction Details and Strategic Vision
The combined company will be known as Horizon Quantum Holdings Ltd. after the final business combination agreement was unanimously approved by the boards of directors of both Horizon Quantum and dMY Squared. It is anticipated that its Class A common shares would be listed on the Nasdaq with the ticker “HQ”. Horizon Quantum is worth about US$503 million as a result of the transaction. Subject to the usual closing requirements, such as the consent of both businesses’ shareholders, the closing is expected to take place in the first quarter of 2026.
While quantum technology advances, the actual revolution comes in enabling people to harness these powerful systems for real-world problems, said Horizon Quantum founder and CEO Dr. Joe Fitzsimons, excited for the cooperation. The ‘applications bottleneck’ is a crucial obstacle that the team is dedicated to overcoming to fully realize the potential of quantum computing in practice. He added that going public is anticipated to greatly expand access to funding and quicken Horizon Quantum’s technological development schedule.
This view was shared by Harry You, Chairman and CEO of dMY Squared, who highlighted the enterprise hardware and software expertise of his team. “It think that creating applications is essential to promoting the wider use of quantum computers to solve important problems in the real world. From a technological and financial standpoint, the objective of developing a quantum operating system and software stack is fundamental and alluring,” you said. Drawing on prior experience, he highlighted the ability of an operating system and management layer to fuel computation and applications.
Market Reaction and Future Outlook
The shares of dMY Squared Technology Group experienced a good reaction after the announcement of the definitive agreement, rising more than 9% before the market opened. The perceived potential and strategic significance of Horizon Quantum’s goal to develop a single software platform across various quantum computing hardware techniques are highlighted by this market response.
A strong team of consultants supports the deal. The financial advisor for dMY Squared is Needham & Company, LLC. Rajah & Tann Singapore LLP and Ellenoff Grossman & Schole LLP provide legal advice for Horizon Quantum. TCF Law Group, PLLC and White & Case LLP are serving as dMY Squared’s legal advice. ICR, LLC is the strategic communications adviser for dMY Squared.
Dr. Fitzsimons will serve as CEO of the merged business after the deal closes. His broad academic experience and his co-invention of universal blind quantum computing will be advantageous to the company.
As usual with press releases, the forward-looking statements alert investors of significant risks and uncertainties that could cause expectations, estimates, and projections to differ from reality. A proxy statement/prospectus and registration statement will be submitted to the SEC to provide more information on the proposed business combination. As part of its long-term strategic growth plan, Horizon Quantum additionally just named Greg Gould as Chief Financial Officer on August 11, 2025, to oversee important financial efforts. Additionally, on July 28, 2025, the company became a member of the QuEra Quantum Alliance, which bolstered the ecosystem for quantum software.
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