Israeli company Classiq sold to Intel for $2.3 billion

In depth

Israeli company Classiq has been sold to Intel for $2.3 billion. According to Globes, all of the company's employees will move to Intel.

Nir Minerbi, CEO and co-founder of Classiq, said the company had considered listing its shares in New York or carrying out a SPAC merger before talks with Intel began. According to Ynet, Intel sees Classiq as the strategic and business leader of all its quantum computing efforts, "and this will happen from Israel".

According to Calcalist, Minerbi said the company was founded to solve a problem in which no one knew how to talk to the quantum computer. According to TheMarker, the company built a system for a computer that does not yet exist.