IonQ will acquire its British peer Oxford Ionics for $1.08 billion, the companies said on Monday, helping the U.S.-based quantum computing firm deepen its research expertise in the complex technology that is seeing booming investor interest.

IonQ said Monday that it had agreed to acquire British quantum computing start-up Oxford Ionics in a deal valued at $1.075 billion. The transaction includes $1.065 billion in common stock and roughly $10 million in cash and is expected to close this year,