Intel Acquires Israeli Quantum Computing Startup Classiq for $2.3 Billion
Translated & summarized from Mignews by baba
Intel has agreed to acquire Israeli quantum computing software startup Classiq Technologies for an estimated $2.2 to $2.3 billion, according to Israeli media. Founded in 2020, Classiq develops software for quantum computers, aiming to simplify algorithm development. Intel expects the acquisition to bolster its quantum computing business, while Classiq anticipates faster practical adoption of its technology.
The story in 5 lines · by baba
- Intel is acquiring Israeli quantum computing software startup Classiq Technologies.
- The deal is reportedly valued between $2.2 and $2.3 billion.
- Classiq was founded in 2020 and develops software for quantum computers.
- The acquisition is Intel's second-largest in Israel after Mobileye.
- The technology has potential applications in finance, automotive, and drug development.
American technology giant Intel has agreed to acquire Classiq Technologies, an Israeli startup specializing in software for quantum computers. While Intel has not disclosed the financial terms, Israeli media reports estimate the deal's value at between $2.2 and $2.3 billion. This acquisition could mark Intel's second-largest deal in Israel, following its 2017 purchase of autonomous driving technology firm Mobileye for over $15 billion.
The platform enables users to create quantum algorithms and applications without requiring deep expertise in complex quantum circuit design. Potential applications for Classiq's technology span across the financial sector, automotive industry, automation, and drug development.
Intel's Head, Lip-Bu Tan, stated that integrating Classiq will help transform the company's quantum computing division into a fully operational business. Co-founder Nir MInerbi expressed confidence that the merger will accelerate the practical implementation of quantum technologies.
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