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System1 has completed its business combination with Trebia Acquisition Corp. (TREB), approved by stockholders on January 20, 2022. The combined entity will trade on the NYSE under the ticker SST starting January 28, 2022. This merger positions System1 as a leading digital marketing platform, leveraging its Responsive Acquisition Marketing Platform (RAMP) to enhance customer acquisition and subscriptions. System1 aims to utilize its advanced technology and data science to deliver high-intent customers to partners, enhancing its growth prospects.
On January 20, 2022, shareholders of Trebia Acquisition Corp. (TREB) voted overwhelmingly in favor (93.57%) of the business combination with System1, an omnichannel customer acquisition platform. This merger will result in Trebia adopting the name System1, Inc. and trading under the ticker symbol SST on the NYSE. System1's advanced Responsive Acquisition Marketing Platform (RAMP) focuses on privacy-centric customer acquisition across multiple verticals, seeking to enhance brand growth and develop privacy-focused products.
System1 has announced an update to its MapQuest iOS application, which now supports Apple CarPlay. This feature allows users to navigate safely with turn-by-turn directions via their vehicle's dashboard. The update introduces benefits such as night and day mode, saved routes, and dashboard navigation alerts. MapQuest has a decade-long partnership with top data providers to enhance its navigation capabilities. The app is available for free on iOS version 6.0.23 or later and can be downloaded from the App Store.
System1 announced that its MapQuest B2B service will provide mapping and geolocation for Epic, a leading health information company. This collaboration allows Epic to integrate MapQuest’s services across various workflows within its electronic health record system. The partnership aims to improve patient access to healthcare providers, enhance home health service routing, and facilitate care equity analyses. System1 emphasizes the importance of HIPAA-compliance in handling sensitive data, highlighting a bright future for MapQuest in the privacy-conscious landscape.
System1 has announced amendments to its business combination with Trebia Acquisition Corp. (TREB), enhancing financial backing to support potential redemptions by Trebia's public shareholders. Key changes include a $250 million equity backstop from Cannae Holdings, an increase of $50 million from the previously announced amount. The transaction will also feature up to $650 million in committed financing, including a $400 million syndicated term loan. The business combination is anticipated to close around January 24, 2022, subject to shareholder approval on January 20, 2022.
System1 and Trebia Acquisition Corp. announced a Special Meeting on January 20, 2022, to approve their proposed Business Combination. The Record Date for voting is November 22, 2021. The transaction's closing is dependent on shareholder approval and other customary conditions, with an expected closing on or about January 24, 2022. Post-transaction, the new company will trade under the ticker symbol 'SST' on the NYSE from January 25, 2022. Trebia encourages all shareholders to vote 'FOR' the proposals and highlights the importance of participation in the voting process.
System1 has announced its acquisition of RoadWarrior, a route-planning app tailored for gig economy drivers, aiming to enhance MapQuest's subscription offerings. This strategic move will integrate advanced navigation features into MapQuest, leveraging RoadWarrior’s sophisticated algorithms that optimize routes based on variables like traffic, drop-off priorities, and tolls. The acquisition is part of System1's expansion strategy, expected to grow RoadWarrior's user base through its customer acquisition expertise, aligning with the upcoming merger with Trebia Acquisition Corp. (NYSE: TREB), projected to close in early 2022.
Trebia Acquisition Corp. (NYSE: TREB) announced nominees for its Board of Directors in connection with the upcoming business combination with System1. The slate includes industry veterans such as William P. Foley, II, and Frank R. Martire, Jr., who bring extensive experience from companies like NCR and Fidelity National Financial. CEO Michael Blend expressed optimism about leveraging this diverse experience for shareholder value. The business combination is subject to approval and aims to enhance System1’s operations and growth potential.
System1 has scheduled multiple investor events featuring management, including CEO Michael Blend and CFO Tridivesh Kidambi. Key events are:
- Canaccord Genuity Fireside Chat on November 16, 2021, at 1:00 PM ET.
- Credit Suisse 25th Annual Technology Conference on December 1, 2021, at 3:10 PM ET.
- Cannae Holdings Portfolio Conference on December 9, 2021, at 12:40 PM ET.
Additionally, System1 plans to list on the NYSE via a merger with Trebia Acquisition Corp. (NYSE: TREB), expected to close in Q4 2021 or early 2022, rebranding as System1, Inc. with the ticker “SST.”
