Intel just bought Israeli quantum computing firm Classiq for $2.2 billion
Intel is buying Classiq for $2.2 billion in cash.
The short version
- The Israeli Father and son founders will take $200 million.
- Classiq employees hold options worth up to $450 million total.
- That is an average of $3 million for each worker.
Check the numbers on this massive tech exit. Intel, the giant computer chip maker, is acquiring Classiq, an Israeli quantum computing company, for $2.2 billion in net value. The deal brings a massive payday for the founders, investors, and workers who built it from the ground up over six years.
At the center of the windfall are the Father and son founders, Yehuda Naveh and Amir Naveh, who hold about 9% of the shares between them. They stand to rake in roughly $200 million personally from the sale. Meanwhile, the company's 150 employees hold options worth up to $450 million, working out to an average of $3 million per worker.
Venture capital firms are also cashing out big, with Entree Capital set to take about $330 million and Team8 pulling in around $180 million, according to Globes. An intriguing twist connects the deal to Intel CEO Lip-Bu Tan, who had invested in Classiq personally before taking the top job at Intel and reportedly recused himself from the talks.
Once the paperwork clears, Classiq will become Intel's global development center for quantum computing. For the workers who kept their heads down and wrote code, patience just paid off at the bank.
