Horizon Quantum Explores Faster Ways to Fault-Tolerant Quantum Computing with Alice & Bob

• The integration of Alice & Bob’s quantum emulators — ”virtual versions” of the company’s hardware — with Horizon Quantum’s compiler is expected to streamline the deployment of fault-tolerant quantum algorithms.
• As a preview of its upcoming quantum hardware, Alice & Bob will make its emulated cat qubit system — a system made up of the first qubit capable of performing quantum error correction — available for deployment through Horizon Quantum’s Triple Alpha development environment.

PARIS & SINGAPORE--(BUSINESS WIRE)--Horizon Quantum Computing Pte. Ltd. (“Horizon Quantum”), a pioneer of software infrastructure for quantum applications, and Alice & Bob (“A&B”), a cutting-edge developer of fault-tolerant quantum computers, today announced a strategic collaboration to leverage both companies’ strengths and streamline the development and deployment of fault-tolerant quantum computing (“FTQC”) software.

By integrating A&B’s emulators with Triple Alpha, Horizon Quantum’s powerful development infrastructure, the companies seek to create a full-stack solution for quantum application development that combines best-in-class technologies at both the hardware and software levels. This collaboration is expected to pave the way for future integration with physical systems, laying the foundation for the seamless deployment of complex algorithms onto A&B’s soon-to-be-released quantum processing units (“QPUs”).

Through this joint effort, the companies seek to:

• support the development of a comprehensive compilation pipeline that maximises hardware performance by taking into account the hardware's specifications while simplifying programming for quantum applications; and
• prepare for the launch of real hardware capable of executing quantum error correction tasks as part of A&B’s roadmap for FTQC, with Horizon Quantum's Triple Alpha set to be one of the first platforms to compile and deploy to A&B’s QPUs.

A&B’s emulators provide the opportunity for quantum software developers to experiment with and test quantum error correction protocols. By making A&B’s emulators available through Triple Alpha, Horizon Quantum seeks to broaden the range of hardware architectures supported in Triple Alpha and enable its users to develop on a promising new quantum computing platform.

“Building a complete quantum software stack requires careful integration of algorithms, error correction, and compilation. We believe our partnership with Horizon Quantum is an essential step in ensuring we take a rigorous, research-driven approach to these challenges,” said Dr Théau Peronnin, CEO of A&B.

The partnership aims to bring Triple Alpha’s resource analysis capabilities to A&B’s backends. This functionality helps optimise the resources used by quantum algorithms at different levels of abstractions and on different hardware platforms by tracking various metrics such as qubit count and gate count, all critical components for accelerating the practical use of quantum computers.

“Realising the full potential of quantum computing will require building systems that are fault-tolerant,” said Dr Joe Fitzsimons, CEO of Horizon Quantum. “By bringing together Horizon Quantum’s expertise in quantum programming and compilation with Alice & Bob's expertise in fault-tolerant hardware architectures, I believe this partnership will help drive progress towards practical fault-tolerant quantum computing.”

Together, A&B and Horizon Quantum aim to accelerate the path to scalable, fault-tolerant quantum computing, with a vision of creating a future where quantum algorithms are accessible, impactful and reliable across industries.

About Horizon Quantum

Horizon Quantum’s mission is to unlock broad quantum advantage by building the software infrastructure that empowers developers to use quantum computing to solve the world’s toughest computational problems.

Founded in 2018 by Dr. Joe Fitzsimons, a leading researcher and former professor with more than two decades of experience in quantum computing, the company is bridging the gap between today’s hardware and tomorrow’s applications through the creation of advanced quantum software development tools. Its integrated development environment, Triple Alpha, enables developers to write sophisticated, hardware-agnostic quantum programs at different levels of abstraction.

About Alice & Bob

Alice & Bob is a quantum computing company based in Paris and Boston whose goal is to create the first universal, fault-tolerant quantum computer. Founded in 2020, Alice & Bob has raised €130 million in funding, hired over 150 employees and demonstrated experimental results surpassing those of technology giants such as Google or IBM.

Advised by Nobel Prize winning researchers, Alice & Bob specializes in cat qubits, a technology developed by the company's founders and later adopted by Amazon. Demonstrating the power of its cat architecture, Alice & Bob recently showed that it could reduce the hardware requirements for building a useful large-scale quantum computer by up to 200 times compared with competing approaches. Follow Alice & Bob on LinkedIn, X or YouTube, visit their website www.alice-bob.com, or join The Cat Tree on Slack to learn more.

Additional Information about Horizon Quantum’s Business Combination and Where to Find It

In connection with Horizon Quantum’s previously announced business combination (the “Business Combination”) with dMY Squared Technology Group, Inc. (“dMY”), Horizon Quantum Holdings Ltd. (“Holdco”) and Horizon Quantum have filed a registration statement on Form F-4 relating to the Business Combination and certain other matters (the “Registration Statement”), which includes a preliminary proxy statement of dMY and a preliminary prospectus of Holdco with respect to the securities to be offered in the Business Combination. After the Registration Statement is declared effective, dMY will mail a definitive proxy statement/prospectus to its shareholders as of a record date to be established for voting on the Business Combination. The Registration Statement, including the proxy statement/prospectus contained therein, contains important information about the Business Combination and the other matters to be voted upon at a special meeting of shareholders of dMY (the “Special Meeting”). This press release does not contain all the information that should be considered concerning the Business Combination and other matters and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. dMY, Holdco and Horizon Quantum may also file other documents with the U.S. Securities and Exchange Commission (the “SEC”) regarding the Business Combination. dMY’s shareholders and other interested persons are advised to read, the Registration Statement, including the preliminary proxy statement/prospectus contained therein, the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the Business Combination, as these materials will contain important information about dMY, Horizon Quantum, Holdco, and the Business Combination. The documents filed by dMY, Holdco and Horizon Quantum with the SEC also may be obtained free of charge upon written request to dMY at dMY Squared Technology Group, Inc., 1180 North Town Center Drive, Suite 100, Las Vegas, Nevada 89144.

Participants in the Solicitation

Horizon Quantum, Holdco and dMY and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of dMY’s shareholders in connection with the Business Combination. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of dMY’s directors and officers in the Registration Statement, dMY’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on April 3, 2025 (the “dMY Annual Report”), dMY’s subsequent quarterly reports, and other filings with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to dMY’s shareholders in connection with the Business Combination is set forth in the preliminary proxy statement/prospectus relating to the Business Combination. Information concerning the interests of Horizon Quantum’s, Holdco’s and dMY’s participants in the solicitation, which may, in some cases, be different than those of their respective equityholders generally, is set forth in the preliminary proxy statement/prospectus relating to the Business Combination.

Disclaimer

Past performance by Horizon Quantum’s or dMY’s management teams and their respective affiliates is not a guarantee of future performance. Therefore, you should not place undue reliance on the historical record of the performance of Horizon Quantum’s or dMY’s management teams or businesses associated with them as indicative of future performance of an investment or the returns that Horizon Quantum or dMY will, or are likely to, generate going forward.

Cautionary Note Regarding Forward-Looking Statements

This press release includes “forward-looking statements” with respect to dMY, Holdco and Horizon Quantum. The expectations, estimates, and projections of the businesses of Horizon Quantum and dMY may differ from their actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “accelerate,” “aim,” “create,” “expect,” “estimate,” “will,” “could,” “seek,” “should,” “potential,” and similar expressions are intended to identify such forward-looking statements.

These forward-looking statements include, without limitation, expectations that Horizon Quantum and A&B will be able to create a full-stack solution for quantum application development and pave the way towards practical fault-tolerant quantum computing, the ability of the partnership to bring Triple Alpha’s resource analysis capabilities to A&B’s backends to optimise the resources used by quantum algorithms at different levels of abstractions and on different hardware platforms by tracking various metrics such as qubit count and gate count.

These forward looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and are subject to, without limitation, (i) known and unknown risks, including the risks and uncertainties indicated from time to time in the dMY Annual Report, dMY’s subsequent quarterly reports, and other filings with the SEC, and the Registration Statement, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by dMY, Holdco or Horizon Quantum; (ii) uncertainties; (iii) assumptions and (iv) other factors beyond dMY’s, Holdco’s, or Horizon Quantum’s control that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. They are neither statements of historical fact nor promises or guarantees of future performance. Therefore, actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and dMY, Holdco, and Horizon Quantum therefore caution against placing undue reliance on any of these forward-looking statements.

Many of these factors are outside of the control of Horizon Quantum, Holdco and dMY and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; (2) the outcome of any legal proceedings that may be instituted against the parties following the announcement of the Business Combination and the Business Combination Agreement; (3) the inability to complete the Business Combination, including due to the failure to obtain approval of the shareholders of Horizon Quantum and dMY or other conditions to closing the Business Combination; (4) changes to the structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) Horizon Quantum’s ability to scale and grow its business, and the advantages and expected growth of Horizon Quantum; (6) the cash position of Horizon Quantum following closing of the Business Combination; (7) the inability to obtain or maintain the listing of Holdco’s securities on Nasdaq following the Business Combination; (8) the risk that the announcement and pendency of the Business Combination disrupts Horizon Quantum’s current plans and operations; (9) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of Holdco to grow and manage growth profitably and source and retain its key employees; (10) costs related to the Business Combination; (11) changes in applicable laws and regulations or political and economic developments; (12) the possibility that Horizon Quantum may be adversely affected by other economic, business and/or competitive factors; (13) Horizon Quantum’s estimates of expenses and profitability; (14) the amount of redemptions by dMY public shareholders; (15) difficulties operating Horizon Quantum’s quantum processor and the possibility that the quantum processor does not provide the advantages that Horizon Quantum expects; (16) the ability to successfully or timely consummate the previously-announced approximately $110 million PIPE financing in connection with the Business Combination; (17) the entry into the previously-announced letter agreement with IonQ, Inc. related to such PIPE financing, and our ability to recognize the benefits of such letter agreement; (18) the ability of Horizon Quantum and A&B to the recognize the benefits of their partnership to bring Triple Alpha’s resource analysis capabilities to A&B’s backends and (19) other risks and uncertainties included in the “Risk Factors” sections of the dMY Annual Report, dMY’s subsequent quarterly reports and other filings with the SEC, and the Registration Statement and other documents filed or to be filed with the SEC by Horizon Quantum, Holdco and dMY. The foregoing list of factors is not exclusive. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Horizon Quantum, Holdco and dMY do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law.

No Offer or Solicitation

This press release does not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Business Combination. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.