SkyWater Technology Acquisition, Valuation & Financials

SkyWater Technology was acquired by IonQ for $1.8B in January 2026, a 5.2x multiple on $347M of revenue.

SkyWater Technology acquisition price

$1.8B

Acquired by IonQ · Jan 2026

SkyWater Technology revenue at acquisition

$347M

Last twelve months · Jan 2026

SkyWater Technology revenue multiple at acquisition

5.2x

EV/Revenue · Jan 2026

SkyWater Technology EBITDA multiple at acquisition

69.2x

EV/EBITDA · Jan 2026

SkyWater Technology Overview

About SkyWater Technology

SkyWater Technology Inc is a U.S.-based, independent, pure-play technology foundry that offers semiconductor development and manufacturing services from its fabrication facilities. In its technology as a service model, it leverages a foundation of proprietary technology, engineering to co-develop process technology intellectual property (IP) with its customers that enable disruptive concepts through its Technology Services for diverse microelectronics (integrated circuits) and related micro- and nanotechnology applications. It focuses on serving diversified, high-growth, end users in numerous vertical markets, including computation, aerospace and defense (A&D), automotive and transportation, bio-health, and industrial.


Founded

2016

HQ

United StatesUnited States

Status

Acquired

Revenue

$347M (Jan 2026)

Valuation

$1.8B (acquired Jan 2026)

SkyWater Technology Acquisition

SkyWater Technology was acquired by IonQ for $1.8B on 26 January 2026.

The acquisition price implies a 5.2x revenue and 69.2x EBITDA multiple on $347M of revenue.

SkyWater Technology acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
26 Jan 2026Strategic M&A$1.8B5.2x69.2x

SkyWater Technology as a Public Company

SkyWater Technology traded as NAS: SKYT before it was taken private. Its acquisition was announced in January 2026. July 2026 is its last month on record as a listed company, with a market cap of $1.6B and an enterprise value of $1.8B.

Last-twelve-month revenue was $525M, with EBITDA of $61M (12% margin), and the shares traded at 3.5x EV/Revenue and 30.1x EV/EBITDA.

Over the 4 years before that, its market cap grew from $542M in July 2022 to $1.6B, while revenue grew from $183M to $525M.

SkyWater Technology market cap while listed

SkyWater Technology EV/Revenue (LTM) while listed

SkyWater Technology financials and trading multiples by year while listed
As ofMarket capRevenue (LTM)EBITDA (LTM)EBITDA marginEV/RevenueEV/EBITDA
Jul 2026$1.6B$525M$61M12%3.5x30.1x
Jul 2025$430M$319M$28M9%1.4x16.4x
Jul 2024$350M$315M$16M5%1.3x26.8x
Jul 2023$434M$244M$20M8%2.1x26.5x
Jul 2022$542M$183M($1M)-1%3.3x(456.5x)

Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month SkyWater Technology traded.

SkyWater Technology Competitors

SkyWater Technology competitors include listed companies like ams-OSRAM, Malaysian Pacific Industries, Siltronic and Microgate Technology, and private ones like Xinlian Power and Silicon Box.

Public and private companies comparable to SkyWater Technology
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ams-OSRAMAustriaAustriaPublicly listed$3.7B$649M$1.8B0.9x
Malaysian Pacific IndustriesMalaysiaMalaysiaPublicly listed$654M$137M$1.8B2.6x
SiltronicGermanyGermanyPublicly listed$1.5B$357M$1.9B2.0x
Microgate TechnologyChinaChinaPublicly listed$569M$93M$1.9B3.1x
Xinlian PowerChinaShaoxingPrivate$413M-$2B4.8x
Silicon BoxSingaporeSingaporePrivate--$1B-

SkyWater Technology Public Comps

SkyWater Technology is no longer listed, but its public comps include Anritsu, ams-OSRAM, Hengmingda, Oxford Instruments, Minda Corp, Malaysian Pacific Industries, Cohu, Finolex Cables, Zhenghai Magnetic Material and Arteche.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Anritsu$743M$132M2.0x1.8x11.3x8.9x
ams-OSRAM$3.7B$649M0.9x0.9x4.9x5.8x
Hengmingda$429M$98M3.5x3.6x15.3x14.7x
Oxford Instruments$569M$104M3.0x2.9x16.3x14.0x
Minda Corp$645M$77M3.0x2.6x25.4x22.2x
Malaysian Pacific Industries$654M$137M2.7x2.6x12.9x11.4x
Cohu$453M($18M)3.6x2.7x(93.0x)21.4x
Finolex Cables$656M$103M2.4x2.0x15.1x18.8x

This data is available for Pro users. Sign up to see all SkyWater Technology competitors and their valuation data.

Start Free Trial

Common questions about SkyWater Technology

When was SkyWater Technology founded?SkyWater Technology was founded in 2016.
Where is SkyWater Technology headquartered?SkyWater Technology is headquartered in United States.
Is SkyWater Technology publicly listed?No, SkyWater Technology was acquired by IonQ in January 2026.
Who acquired SkyWater Technology?SkyWater Technology was acquired by IonQ in January 2026.
How much was SkyWater Technology acquired for?SkyWater Technology was acquired for $1.8B in January 2026, a 5.2x revenue multiple.
Which companies are comparable to SkyWater Technology?Companies comparable to SkyWater Technology include ams-OSRAM, Malaysian Pacific Industries, Siltronic, Microgate Technology, Xinlian Power and Silicon Box.
What was SkyWater Technology's market cap before the acquisition?SkyWater Technology had a market cap of $1.6B in July 2026, its last month on record as a listed company, trading at 3.5x EV/Revenue.
What was SkyWater Technology's revenue as a public company?SkyWater Technology's last reported twelve-month revenue was $525M (July 2026), with EBITDA of $61M.

See companies similar to SkyWater Technology

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial