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Announced

Completed

Court Square Capital Partners-backed System1 went public via a SPAC merger with Cannae-backed Trebia Acquisition in a $1.4bn deal.

Financials

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Transaction Value£1,007m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales2.5x
EV/EBITDA25.29x
Share Price Premium-
One Off Charge-

Synopsis

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Court Square Capital Partners-backed System1, a global marketing research and effectiveness company, went public via a SPAC merger with Cannae-backed Trebia Acquisition, a blank check company, in a $1.4bn deal. "We are proud to partner with System1 and look forward to supporting this exciting new chapter for the company. With its proprietary RAMP technology and unique value proposition, we’re confident that System1 will continue to expand its position as a leading digital marketing company. We are excited to see System1 enter its next phase of growth, now with added capital resources," William P. Foley II, Cannae Chairman.

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