Intel to Acquire Israeli Firm Classiq in Tech Mega-Deal

In depth

Chip giant Intel announced the acquisition of Israeli company Classiq, which develops a platform for designing quantum algorithms. According to Ynet, the startup was founded in 2020, raised more than $200 million and employs about 130 people. According to Calcalist, Classiq employs 150 people.

According to Ynet, Intel CEO Lip-Bu Tan said the deal will turn the company's quantum computing activity into a full business, from hardware to software. According to Globes, Classiq's clients include BMW and HSBC.