IQN (NewsDesk): Intel has signed a definitive agreement to acquire Israeli quantum software company Classiq, a deal reportedly worth about 2.3 billion dollars in cash and stock that would be the largest acquisition of a quantum computing company to date.
The deal combines Classiq’s automated quantum algorithm synthesis platform with Intel’s silicon spin qubit technology, chip manufacturing expertise and existing quantum software, creating what Intel calls a full stack quantum computing platform. Classiq, founded in 2020, does not build hardware. It makes software that lets developers and enterprises create quantum applications without deep expertise in circuit design, working across different qubit types and hardware. Intel says it will keep supporting Classiq’s existing integrations, including its work with machines from IBM and IonQ, which, along with AMD Ventures and Qualcomm Ventures, invested in the company last November.
Intel CEO Lip-Bu Tan said the deal transforms the company’s Quantum Computing Group into a full stack business. Classiq CEO Nir Minerbi said Intel will be among the first names people think of in quantum computing, and told Calcalist that Classiq’s roughly 140 employees will join Intel’s team of about 70 working on quantum technologies, with the strategy for Intel’s quantum effort driven from Israel. Tan was also a personal investor in Classiq before becoming Intel’s chief executive. The deal still needs to close.
