Intel agrees to buy Israeli startup Classiq Technologies, in deal estimated to be worth over $2 billion

By Sharon Wrobel

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Sharon Wrobel is a tech reporter for The Times of Israel

US semiconductor giant Intel agrees to buy Israeli startup Classiq Technologies, the developer of an operating system and software tools for quantum computers.

The US chipmaker did not disclose the price tag, but the deal is estimated to be worth between $2.2 billion and $2.3 billion, according to reports in the Hebrew press.

The deal marks Intel’s second-largest acquisition in Israel since it bought Mobileye, a Jerusalem-based maker of self-driving technologies, for over $15 billion, in 2017.

“For more than a decade, Intel has made remarkable progress in quantum computing by applying its semiconductor innovation, advanced manufacturing prowess and systems engineering expertise to the development of scalable silicon spin-qubit technology,” says Intel CEO Lip-Bu Tan. “Joining forces with Classiq transforms Intel’s Quantum Computing Group into a full-stack quantum computing business.”

Founded in 2020 by CEO Nir Minerbi, CTO Yehuda Naveh and his son CPO Amir Naveh, Classiq has developed a software operating platform that works across all major types of quantum hardware. The platform is tailored to help data scientists, computational scientists, and engineers work on quantum algorithms and build programs and applications with high-performance computational power that hold the promise of speeding up solutions to today’s most complex real-world problems.

The platform simplifies the creation and design of complex quantum circuits and is geared to allow businesses and organizations without in-house quantum experts to build quantum applications that can resolve complex calculations in areas such as the automotive industry, automation, finance, and drug discovery in the pharmaceutical industry.

“Since our founding, Classiq has focused on making quantum computing practical and accessible by enabling developers, researchers and enterprises to create scalable quantum applications without requiring deep expertise in quantum circuit design,” says Minerbi. “Together, Intel and Classiq can help unlock the benefits of quantum computing and accelerate its adoption sooner.”