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Latham & Watkins Advises System1 in its Business Combination with Trebia Acquisition Corp. and in its Acquisition of Protected.net

June 29, 2021
A corporate team advised the fast-growing and privacy-focused digital marketer to become publicly listed at a US$1.4 billion valuation.

System1, a leading omnichannel customer acquisition platform, and Trebia Acquisition Corp. (NYSE: TREB), a special purpose acquisition company formed by entities affiliated with William P. Foley, II and Frank R. Martire, Jr., has announced a definitive agreement for a business combination that would result in System1 becoming a publicly listed company. Upon closing of the transaction, the combined company will be named System1 Group, Inc. and is expected to be listed on the NYSE and trade under the new ticker symbol “SST”. Concurrent with this transaction, System1 will be combining with Protected.net, a leading developer of security and privacy subscription products with over 2 million paying subscribers.

Latham & Watkins LLP represents System1 and certain key shareholders of System1 with a corporate deal team led by Los Angeles partners Alex Voxman, Steve Stokdyk, and Andrew Clark, with associates Brianna Dollinger, Todd Noelle, Kenneth Hagan, Matt Hutchins, Tyler Miller, Adele Zhang, Michael Jung, and Irene Fedoseienko. Advice was also provided on tax matters by Bay Area partner Grace Lee and London partner Sean Finn, with associate Gregory Conyers; on benefits and compensation matters by Los Angeles partners Larry Seymour and Julie Crisp, with associate Jina Davidovitch; on finance matters by Bay Area partner Haim Zaltzman and Los Angeles partner Elizabeth Oh; and on regulatory matters by Bay Area partner Josh Holian and Washington, D.C. counsel Peter Todaro.