Intel Plans to Keep Classiq's Quantum Software Hardware-Agnostic in a Reported $2.3 Billion Deal

Intel says it will keep Classiq’s quantum software hardware-agnostic after buying the Tel Aviv startup, even though Intel makes its own qubits. The chipmaker signed a definitive agreement Monday to acquire Classiq, but it did not disclose a purchase price. Ctech, citing Intel, put the deal at $2.3 billion in cash and Intel stock, expected to close next year. SiliconANGLE reported $2.2 billion. Ctech described the multiple as substantial for the roughly 150-employee company, with annual revenue in the tens of millions and valuation last pegged around $600 million to $700 million. Intel also said it set aside more than $100 million in retention grants. Classiq’s customers include IBM, Google, IonQ, BMW, HSBC, Intesa Sanpaolo, Rolls-Royce, Deloitte, Toshiba, and Citi.