Intel agrees to acquire Israeli quantum software company Classiq for about $2.3 billion, according to Bloomberg

Intel announced on October 26 that it has signed a definitive agreement to acquire Classiq, a quantum computing software company based in Tel Aviv. Intel’s announcement did not include a price. Bloomberg, citing sources, put it at about $2.3 billion. CTech, Calcalist’s tech site, reported the payment will be in cash and Intel stock. Globes wrote that Classiq’s cash on hand brings the effective price to $2.2 billion. The deal is subject to regulatory approvals and expected to close in the first half of 2027, with the companies operating independently until then.

Founded in 2020 by Nir Minerbi, Amir Naveh and his father, Yehuda Naveh, Classiq makes a platform that automatically converts high-level functional models into optimized quantum circuits. The software is agnostic to qubit type and hardware, and Intel says it will keep supporting Classiq’s existing multi-platform integrations. Intel has worked on silicon spin qubits since 2015. It says the deal will add quantum processing units (QPUs) to a portfolio of CPUs, GPUs and ASICs. “Joining forces with Classiq transforms Intel’s Quantum Computing Group into a full-stack quantum computing business,” said Intel CEO Lip-Bu Tan.

Per Bloomberg, Classiq has raised more than $200 million and has about 130 employees; CTech puts headcount at around 150. CTech says its $110 million round in 2025 valued it at an estimated $600 million to $700 million, and that annual revenue is in the tens of millions of dollars. Customers include BMW, HSBC, Citi and Rolls-Royce. The previous record quantum deal was IonQ’s roughly $1 billion purchase of Oxford Ionics last year. Tan invested in Classiq personally before becoming Intel CEO. According to CTech’s sources close to Classiq, he recused himself from discussions about the acquisition.