US Firm System1 Taken Public with $1.4bn Valuation

Consumer intent analysis platform System1 has become a publicly listed company through a merger with 'blank check company' Trebia Acquisition Corp, set up by D&B investor Cannae Holdings. The deal values System1 at $1.4 billion.

US-based System1, which was co-founded by former Research Now director Michael Blend (pictured) and former Amazon analyst Chuck Ursini, has developed a platform which analyses billions of consumer attributes and uses 'pre-targeting' algorithms to unlock consumer intent across channels including social media, native, e-mail, search, market research and lead generation. The platform's statistical and machine learning models help identify how consumers will respond to a variety of inputs.

The merger was delivered by Cannae Holdings, whose portfolio of companies includes Dun & Bradstreet. This latest deal is expected to provide $175m in cash, which System1 will use to expand its proprietary technology platform (Responsive Acquisition Marketing Platform, or RAMP), to complete its acquisition of security and privacy subscription products developer Protected.net, and for future acquisitions. When the transaction closes, the parent company will be renamed System1 Group, Inc. and will trade its shares of common stock on the NYSE under the ticker symbol 'SST'.

Commenting on the news, Blend said: 'This announcement marks a significant milestone in System1's natural evolution to a public company. The transaction will provide capital for accelerated investment in our RAMP technology and further our position as a leader in privacy-centric customer acquisition. At System1, we strive to improve every single day - our technology, our business, our community, and ourselves. I am thrilled for our entire team and to have Trebia join us on our journey'.

Web sites: www.system1.com and www.trebiaacqcorp.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.