7 days ago • Posted by William Ramstein
Honeywell International to position itself as quantum computing powerhouse
Honeywell and Cambridge Quantum Computing are merging their quantum-computing divisions into a stand-alone firm. Quantum computing can be a multi trillion dollar industry in the future much like smartphones. This new business entity aims for $1B in annual revenue in the next two to four years. The firm plans to have commercial products as soon as late 2021 with initial offering in web security. The company is expecting a cash injection of about $300M from parent org Honeywell--Honeywell stock did not react to the news because quantum computing is still in early stages and has yet to put a product on market.
Source: Dow Jones