Relativity Acquisition signs letter of intent for Mazaii Corp acquisition deal

July 11, 2024
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The group expects to wrap up the $500m merger later this year.

Relativity Acquisition Corp. has signed a letter of intent with Montreal-based iGaming company Mazaii Corp for a $500m merger-acquisition.

The letter outlines a proposal that would allow Relativity to acquire 100% of Mazaii’s outstanding equity and equity equivalents.

Both parties hope to finalize the transaction during the second half of this year, pending regulatory approvals, authorization by the board and stockholders, and the satisfaction of previously negotiated conditions.

Mazaii specializes in creating and distributing both betting solutions and online casino games. Its current market reach includes North America, Latin America, Europe and Asia.

Relativity Acquisition Corp. CEO and Chairman Tarek Tabsh briefly discussed the pending deal by saying, "The iGaming industry is experiencing rapid growth, with increasing acceptance and legalization in various regions. Growing consumer demand, driven by the increasing penetration of smartphones and internet access, further fuels this expansion.

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

Mazaii CEO Eli Baazov said, "We are thrilled to share the transformative journey of Mazaii in revolutionizing the online gambling arena. We have fortified our position, expanded our market reach, and enhanced our innovative service offerings.

“With our in-house intellectual property and continuous organic growth, we are confident in our ability to disrupt the gaming landscape and achieve highly favorable results for our shareholders beyond 2024. This is just the beginning of our journey, and we are excited to shape the gaming industry's future."  

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