Mondee Inc. is nearing a deal with a blank-check firm that would value the travel-technology firm at about $1 billion and take it public, the Wall Street Journal reported here on December 19, 2021. Mondee will merge with special-purpose acquisition company (SPAC) ITHAX Acquisition Corp. (NasdaqCM:ITHX), the report said, citing people familiar with the matter.

A deal could be announced as soon as December 20, 2021. The firm would raise a $50 million private investment in public equity with funds affiliated with Morgan Stanley Investment Management and other investors as part of its deal, the report added. Mondee did not immediately respond to request for a comment outside of business hours.