BCW Member SEEQC to Merge with Allegro in $1 Billion Deal

In a landmark move for the region’s growing tech sector, SEEQC, Inc., a prominent member of the Business Council of Westchester, has announced a definitive merger agreement with Allegro Merger Corp.

The transaction, which values the Elmsford-based quantum computing pioneer at approximately $1 billion, signals a major step in the commercialization of “quantum on a chip” technology.

Under the terms of the agreement, SEEQC will form a wholly owned subsidiary to merge with Allegro, which will survive as a subsidiary of the parent company. Upon completion, expected in the second quarter of 2026, Allegro’s common stock will be exchanged for shares in SEEQC.

The merger has received unanimous approval from the boards of both companies and remains subject to customary regulatory and shareholder approvals.

SEEQC is tackling one of the greatest hurdles in the industry: scaling. While traditional quantum systems consist of bulky, room-temperature electronics and complex cabling, SEEQC’s architecture integrates control, readout, and classical processing directly onto a digital chip.

Founded as a spin-out from Hypres—with roots in IBM’s superconducting electronics division—SEEQC has built a formidable ecosystem of collaborators. Companies using its technology include:

• IBM (under DARPA’s Quantum Benchmarking Initiative)
• NVIDIA
• Booz Allen Hamilton
• Rigetti

This merger not only solidifies SEEQC’s capital path but also cements Westchester County as a vital hub for the global quantum economy.

“SEEQC’s merger with Allegro is a watershed moment for Westchester County’s burgeoning innovation ecosystem,” said BCW president and CEO Marsha Gordon. “By reaching this billion-dollar milestone, SEEQC is validating our collective efforts to diversify Westchester’s economy into high-growth sectors like quantum computing and advanced semiconductor manufacturing. This deal underscores the unique value proposition we offer here: a highly educated talent pool and world-class infrastructure, all while leveraging our strategic proximity to the global financial and tech markets of New York City.”