FinancialContent is the trusted provider of stock market information to the media industry.
May 25, 2011 at 09:00 AM EDT
D-Wave Systems Sells its First Quantum Computing System to Lockheed Martin Corporation

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/25/11 -- Lockheed Martin Corporation (NYSE: LMT) has entered into an agreement to purchase a quantum computing system from D-Wave Systems Inc.

Lockheed Martin and D-Wave will collaborate to realize the benefits of a computing platform based upon a quantum annealing processor, as applied to some of Lockheed Martin's most challenging computation problems. The multi-year contract includes a system, maintenance and associated professional services.

D-Wave develops computing systems that leverage the physics of quantum mechanics in order to address problems that are hard for traditional methods to solve in a cost-effective amount of time. Examples of such problems include software verification and validation, financial risk analysis, affinity mapping and sentiment analysis, object recognition in images, medical imaging classification, compressed sensing and bioinformatics. D-Wave develops an architecture that is optimized for working with such problems.

"D-Wave is thrilled to establish a strategic relationship with Lockheed Martin Corporation," said Vern Brownell, D-Wave's President and Chief Executive Officer. "Our combined strength will provide capacity for innovation needed to tackle important unresolved computational problems of today and tomorrow. Our relationship will allow us to significantly advance the potential of quantum computing."

D-Wave was featured May 12, 2011 in the prestigious British scientific journal Nature, where its research on quantum annealing was published.

Lockheed Martin is a global security company with headquarters in Bethesda, MD.

D-Wave's mission is to build quantum computing systems that help solve humanity's most challenging problems. It strives to use the deepest insights of physics and computer science to design new types of computers capable of taking on the world's hardest and most important challenges.

Working with Fortune 500 companies, governments and academia, D-Wave helps to craft solutions to problems where data volume and complexity are overwhelming. Applying D-Wave's unique quantum computing technology, the company aims to dramatically improve results through better understanding and insights.

Contacts:
D-Wave
Ann Gibbon
Media Contact
1+604-263-0634 or 1+778-999-0064 (mobile)
info@anngibboncommunications.com
www.dwavesys.com

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here
   
Financial Widgets

Display market data, financial news or stock quotes - Learn More

Advertising Network

Advertise on FinancialContent's huge network - Learn More

Web Services

Power your internet and wireless applications - Learn More