- Terra Quantum acquires the intelligent solutions division of GmbH, combining classical and quantum algorithms to advance the application of quantum technologies and solve real-world business challenges more efficiently.
- The integration of the division’s expertise in classical algorithms with Terra Quantum’s quantum computing know-how accelerates the development of classical and hybrid quantum algorithms, reducing complexity for customers and enabling faster solution development.
- This acquisition marks an important milestone for Terra Quantum, bringing together the best talent and intellectual property, including a team of divisional experts led by Prof. Thomas Bäck, a renowned expert in optimization and machine learning.
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“Maximizing the utilization of quantum computing power requires the right combination of classical and quantum algorithms. Combining the technologies of the two companies will take the application of quantum technology to the next level. This will make it possible to efficiently solve many of today’s real-world business challenges,” said Markus Pflitsch, CEO of Terra Quantum.
The division’s acquisition complements the existing Terra Quantum algorithm capabilities, while the division’s customers gain access to quantum technology. By combining the division’s expertise in classical algorithms with Terra Quantum’s knowledge of quantum computing, the two companies will jointly accelerate the development of both classical and hybrid quantum algorithms. The integration reduces complexity for customers and makes developing solutions easier and faster.
In particular, the advancement of Generative AI with increasing computational demands requires not only a hybrid approach that combines classical and quantum technologies, but also superior classical machine learning algorithms. Combining the expertise of Terra Quantum and the division will result in the development of innovative techniques and methodologies specifically designed for generative AI, ultimately pushing the boundaries of what is currently possible in terms of AI-generated content and applications.
“This acquisition is an important milestone for Terra Quantum, marking our first acquisition of rare talent and intellectual property,” said Markus Pflitsch, CEO of Terra Quantum. The “divis” team has an impressive track record of delivering the most advanced machine learning algorithms globally. Together with Thomas Bäck, we welcome one of the world’s leading optimization and machine learning experts to our team.”
“We are very excited to extend our commercially proven evolutionary algorithm for classical optimization problems to quantum space,” said Prof. Thomas Bäck, Managing Director of the division intelligent solutions GmbH. “We look forward to working with the largest and most experienced team in the European quantum industry, with a focus on delivering significant commercial advantages for our customers.”
After the acquisition, the founder of the division, Prof. Thomas Bäck will remain Managing Director of the division and Professor of Computer Science at the Leiden Institute of Advanced Computer Science. He is an expert in evolutionary computing, machine learning, and their real-world applications.
The company did not disclose the terms of the transaction, which closed early in May 2023.