By Sabela Ojea

Shares of Quantum Computing Inc. climbed Monday after the software company said it has created a new entity to deliver quantum solutions to the government and defense markets.

Shares at 11:13 EST were up 22% at $3.00.

The Leesburg, Va.-based company said the products of the entity, QI Solutions Inc., include entropy quantum computing solutions and software, as well as technologies for quantum communication and quantum sensing.

"The new entity will lead and manage engagements, contracts and programs awarded from the U.S. government and Department of Defense," it said.

QI Solutions will act as one of its subsidiaries, Quantum Computing added.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

February 06, 2023 11:37 ET (16:37 GMT)

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