Classiq CEO Reveals Intel Deal Followed SPAC Merger Talks
Translated & summarized from Globes by baba
Classiq CEO Nir Minervi disclosed that the quantum computing company was close to pursuing an IPO or SPAC merger before Intel's $2.2 billion acquisition offer. The deal, finalized Tuesday, will see the founders receive around $200 million. Minervi described the quantum stock market as highly volatile despite its significant promise.
The story in 5 lines · by baba
- Classiq CEO Nir Minervi said the company was close to a SPAC merger or IPO before Intel's acquisition.
- Intel acquired quantum computing firm Classiq for $2.2 billion.
- The acquisition was finalized on Tuesday.
- Classiq founders are set to receive approximately $200 million from the deal.
- Minervi described the quantum stock market as volatile but promising.
Nir Minervi, CEO and co-founder of quantum computing firm Classiq, revealed that the company had been considering a New York IPO or a SPAC merger before Intel approached them. The discussions with Intel ultimately led to a $2.2 billion acquisition, finalized on Tuesday. Minervi stated, "We examined several alternatives, including the public market, and frankly, the path of an IPO or SPAC merger was one we were close to taking. However, there were other strategic offers, and in the end, I am happy it was Intel that made the move." He added that an immediate next step would likely have been a pre-IPO funding round, slightly delaying a public offering. Minervi described the public market for quantum stocks as an "interesting anomaly," comparing it to the pharmaceutical sector with its immense promise and potential for public funding, but noting its high volatility. The acquisition means Classiq's founders, a father and son, will receive approximately $200 million from the deal, with employee earnings also to be determined.
The same event, reported separately by each outlet. Open a few to compare what different newsrooms emphasize — and what they leave out.
Left 1Centre 5Right 2Other 8
