Intel agrees to buy quantum software maker Classiq in reported $2.3 billion deal

Intel said on Oct 26 that it signed a definitive agreement to acquire Classiq, a Tel Aviv-based developer of quantum computing software, without disclosing the price [1][2]. Calcalist reported the price at $2.3 billion in cash and stock, which would make it the largest acquisition in quantum computing, ahead of IonQ's purchase of Oxford Ionics last year for about $1 billion [3]. Globes put the price at $2.2 billion [2]. Haaretz described it as Intel's first major acquisition in four years [4].

Intel plans to pair Classiq's hardware-agnostic circuit-design software with its own silicon spin-qubit chips, which CEO Lip-Bu Tan said turns Intel's Quantum Computing Group into a full-stack business [1]. Classiq has about 150 employees, has raised around $200 million and was valued at about $600 million to $700 million in a 2025 funding round [5]. Tan is a personal investor in Classiq and did not take part in the negotiations, Ynetnews reported, citing people close to the company [5].

Globes reported that Classiq's platform competes with IBM's Qiskit quantum software [2]. D-Wave Quantum paid $550 million for Quantum Circuits earlier in 2026 [2]. The acquisition is subject to regulatory approvals and is expected to close in the first half of 2027, with the two companies operating independently until then [1]. Intel reports third-quarter results after the market close on Oct 29 [6].