EigenQ will go public through a merger with blank-check company Silicon Valley ​Acquisition (SVAQ.O) in a deal valuing the quantum tech firm at ‌about $3 billion, they said on Wednesday.

EigenQ's core business includes making cybersecurity systems that will protect networks and devices from future ​attacks by powerful quantum computers.

The process, called post-quantum ​cryptography, is designed to replace current encryption methods ⁠with algorithms that remain secure even against quantum ​computing capabilities, ensuring long-term protection of sensitive data and ​digital infrastructure.

Global enterprises are adopting this technology amid concerns that attackers may store encrypted data now and unlock it later when ​quantum computers become strong enough to crack today's ​protections, a risk known as "harvest now, decrypt later."

The company also focuses ‌on ⁠quantum-safe communication networks and advancing sensing technologies designed for defense, industrial, environmental and strategic applications.

"We believe going public will provide the resources, visibility, and strategic flexibility necessary ​to accelerate ​commercialization, expand ⁠our technology portfolio," EigenQ CEO Jose R Rosas-Bustos said in a statement.

EigenQ has partnered ​with global tech companies including HPE (HPE.N) and AMD (AMD.O). Its ​initial ⁠commercialization efforts are focused on government, defense, and critical infrastructure markets, where regulatory requirements and security mandates are ⁠creating immediate ​demand.

The deal is expected to ​close in the fourth quarter of this year.