Maquia capital acquisition Corporation signed a definitive business combination agreement with Immersed Inc.
- Hefesto Asesores‘ team was led by our Managing Partner Federico Vázquez with the assistance of Karla Valdovinos valuing the transaction at $150 million.
Maquia Capital Acquisition Corporation (Nasdaq CM:MAQC) a SPAC managed primarily by Mexican professionals entered into a definitive business combination agreement to acquire Immersed Inc. for an enterprise value of approximately $150 million. The combined company is expected to trade on the Nasdaq under the symbol “AIMR” once the deal is completed.
The transaction is the result of the coordination between the management team of Maquia Financial Group, led by Guillermo Cruz and Jeronimo Peralta, and Immersed, and represents a before and after for the Investment Group.
Founded in 2017 by software engineer Renji Bijoy, Immersed develops spatial computing software that enables remote working for employees. It is developing new software and hardware tools, including an artificial intelligence-powered assistant for enterprise customers.
Immersed is among the leading enterprise productivity providers of spatial computing software that enables users to work full-time in AR/VR virtual spaces, with more than 730,000 unique users to date. With this transaction, Immersed will be able to complete the development of its state-of-the-art technology. AI assistant edge, “Curator”, and deliver its specially designed and lightweight headset, “Visor”, which will enable more employees to improve their quality of life and work-life balance.
Hefesto Asesores, through its Managing Partner, Federico Vázquez, advised on the Mexican components of the investment structuring of certain investors through various instruments and investment vehicles.
Other firms advising includes Greenberg Traurig LLP, EF Hutton and the Law Offices of Allan M. Lerner and Homer Bonner Jacobs Ortiz.