Relativity Acquisition Confirms Plans to Merge with Mazaii in $500M Deal

Blank check company sponsored by the Delaware limited liability company, Relativity Acquisition Sponsor LLC, Relativity Acquisition Corp., has announced its intention to acquire the Montreal-based innovator within the online gambling industry, Mazaii Corp Ltd.

Recently, Relativity Acquisition confirmed it has entered a letter of intent for the acquisition of the iGaming developer. Under the terms of the proposed business combination, Relativity Acquisition will acquire 100% of Mazaii’s outstanding equity and equity equivalents.

The deal is valued at $500 million. The completion of the acquisition is subject to due diligence, as well as the relevant regulatory approvals. The two companies must also negotiate the terms of a definitive agreement. Additionally, the business combination is also subject to stockholder and board approvals of Relativity Acquisition and Mazaii.

According to the two companies, after a definitive agreement is reached, further details regarding the proposed business combination will be released. In case everything goes as planned and there are no obstacles on the way, Mazaii is expected to be acquired by Relativity Acquisition at some point during the second half of the year.

“Upon reaching a definitive agreement, the parties shall disclose additional details regarding the proposed transaction. Subject to the absence of unforeseen circumstances, the transaction is anticipated to be finalized in the second half of this year,“

reads a statement released by Relativity Acquisition Corp.

The Proposed Business Combination Brings Excitement to the Duo

Eli Baazov, Mazaii’s CEO, revealed that the company is excited to confirm the news about the upcoming business combination. He said that the strategic acquisition is expected to help transform Mazaii and enable it to continue growing within the iGaming sector.

Baazov added: “We have fortified our position, expanded our market reach, and enhanced our innovative service offerings.” He said that Mazaii, backed by its innovative in-house products, remains confident it will “disrupt the gaming landscape and achieve highly favorable results for our shareholders beyond 2024.”

“The Mazaii international platform provides a significant opportunity for scalability and revenue growth. This transaction will enhance Mazaii’s competitive advantage and market positioning.“

Tarek Tabsh, CEO and chairman of Relativity Acquisition Corp

Tarek Tabsh, Relativity Acquisition’s CEO, was just as delighted about the new collaboration. He spoke about the exponential growth of the online gambling sector, highlighting that more jurisdictions across the globe legalize the activity.

Tabsh spoke about Mazaii, pointing out that its platform delivers opportunities for revenue growth as well as enhanced scalability. Finally, the exec said that the proposed business combination is expected to propel the market position and competitiveness of Mazaii.