Reliance Global Group Announces Letter of Intent for Most Significant Acquisition to Date
LAKEWOOD, N.J., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), today announced it has entered into a Letter of Intent (LOI) to acquire a well established benefits enrollment company (the “Target”). The Target is a leading provider of voluntary benefits to approximately 45,000 employees throughout the United States and utilizes cutting-edge technology, setting them apart in the industry. The acquisition is subject to the execution of a definitive agreement and other customary closing conditions. The transaction is expected to close in the first quarter of 2024.
- LAKEWOOD, N.J., Nov. 21, 2023 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), today announced it has entered into a Letter of Intent (LOI) to acquire a well established benefits enrollment company (the “Target”).
- The Target is a leading provider of voluntary benefits to approximately 45,000 employees throughout the United States and utilizes cutting-edge technology, setting them apart in the industry.
- The acquisition is subject to the execution of a definitive agreement and other customary closing conditions.
- Ezra Beyman, CEO of Reliance, commented, "We are excited to announce our most significant planned acquisition to date, which would more than double our current revenue and provide attractive EBITDA returns.