Intel to Acquire Israeli Quantum Software Company Classiq

Intel is acquiring Israeli quantum-software company Classiq in a cash-and-stock transaction valued at $2.3 billion. The amount includes about $100 million in Classiq’s cash, leaving roughly $2.2 billion after that balance is deducted. Based on Dubnov Street in Tel Aviv, Classiq develops tools for designing, testing and running software across different quantum-computer architectures. The company, which has 150 employees, is set to become Intel’s global quantum development center.