"Pasqal is a full-stack quantum computing company taking on Big Tech. It generates annual revenue in the tens of millions from selling hardware, software and cloud services to labs and industry partners."
"U.S. markets offer companies like Pasqal the sort of scale and revenue multiples that are harder to come by at home in Europe, not to mention the cash they need for the long journey to fully realize the potential of quantum computing."
"But Pasqal (like IQM) is planning a dual US-European listing. The Nasdaq float is scheduled for this year, and the company will prepare to list on Euronext later in 2026 or 2027."
Pasqal, a European full-stack quantum computing company, is merging with Bleichroeder Acquisition Corp II to list on Nasdaq, following similar moves by Finnish competitor IQM. The merger values Pasqal at $2 billion pre-money, with an accompanying $200 million private funding round. Pasqal generates annual revenue in the tens of millions from hardware, software, and cloud services. The company plans a dual listing strategy, with Nasdaq flotation scheduled for this year and Euronext listing planned for late 2026 or 2027. Bpifrance, France's public investment bank, remains a key shareholder and board member. Pasqal will maintain its French legal entity status, headquartered in Palaiseau near Paris.
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