Israeli quantum-computing company Classiq is being acquired by Intel for $2.3 billion in a combination of cash and stock. The acquisition could become one of the largest exits in the quantum sector.
Intel has agreed to acquire Israeli quantum-computing startup Classiq for $2.3 billion. The transaction will combine cash and stock and is expected to be the largest acquisition to date in the quantum sector.
Classiq develops an operating system for quantum computers. It has expanded partnerships in the Japanese market after receiving investment from Japanese companies including IN Ventures, NTT Finance and SoftBank Vision Fund.
Intel has previously acquired Israeli companies Moovit for approximately $1 billion and Habana Labs for approximately $2 billion, but subsequent acquisitions have been smaller. This transaction is likely to exceed that pattern in scale.
Classiq's funding history and partnership record in the Japanese market are cited as background to the acquisition.