June 9 (Reuters) - IonQ ( 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.

Shares of IonQ ( IONQ ) rose close to 4% premarket. The company was

valued at $10.15 billion as of last close.

Quantum computers are faster and more efficient than their

classical counterparts, performing more niche and advanced

calculations, partly due to their ability to predict the results

of multiple paths simultaneously and store vast amounts of data.

The technology is drawing hundreds of millions of dollars in

funding from technology giants such as Microsoft ( MSFT ),

Alphabet's Google and IBM ( IBM ).

Oxford Ionics' work is centred around novel methods of

controlling qubits, the fundamental unit of quantum computers

that much of modern quantum research is focusing on.

The British firm's founders, Chris Balance and Tom Harty,

who are also researchers in the field, will remain with IonQ ( IONQ )

after the acquisition completes, the companies said.

The cash-and-stock transaction is expected to close this

year, and the number of shares IonQ ( IONQ ) will issue will depend on

its stock price over a 20-day period before the deal closes.

The price per share will stay within a range of $30.22 to

$50.37, the companies said.

While revenues of quantum computing firms like IonQ ( IONQ ) and

Rigetti remain small, the technology is seen as a key

national security undertaking, along with the ability to serve

in industries like medical research and cybersecurity.

IonQ ( IONQ ) has sought to expand through deals over the past year,

such as the acquisition of Boston-based startup Lightsynq, which

specializes in quantum memory.

Nvidia CEO Jensen Huang said in March the AI chip leader

will also open a quantum computing research lab, having earlier

cast doubts on the timeline for practical applications of the

technology.