Shantel
Key Takeaways:
- 3radical has entered non-binding heads of terms for a Reverse Takeover with Electric Guitar plc.
- Electric Guitar plc was formed to acquire data and technology businesses and become a leader in the People First era.
- The reverse takeover will support the accelerated roll-out of 3radical’s platform and expand the capabilities of the business.
- Marketers are increasingly focused on earning and effectively using first-party data in response to changing consumer attitudes toward data privacy.
- The merger aims to position 3radical as the global source for marketers seeking to meet the growing demand for first-party data.
- The Identity and Data Services Market is expected to reach $64.5 billion in 2026.
Introduction
3radical, the developer of the Voco platform for audience engagement and first-party data acquisition, has announced its plans to list on the London Stock Exchange via a Reverse Takeover with Electric Guitar plc. Electric Guitar is a Special Purpose Acquisition Company formed in 2021 with the goal of acquiring data and technology businesses to establish itself as a leader in the People First era.
Accelerating Growth and Broadening Capabilities
The Reverse Takeover with Electric Guitar will be the first transaction for the company and will facilitate the rapid expansion of 3radical’s platform. It will also provide opportunities to enhance the capabilities of the business. As consumer attitudes toward data privacy evolve, marketers face increasing pressure to effectively utilize first-party data. 3radical expects significant growth in this area and aims to serve marketers’ needs as they navigate this shifting landscape.
Addressing Changing Consumer Attitudes and Marketers’ Needs
Research conducted by Winterberry Group reveals that the Identity and Data Services Market was worth $47.1 billion in 2023 and is projected to reach $64.5 billion by 2026. David Eldridge, Chairman of 3radical, emphasizes the importance of understanding the value exchange between brands and customers to create first-party data sources that power enhanced customer experiences while addressing data privacy concerns. By joining forces with Electric Guitar, 3radical seeks to create a global business that delivers the technology and capabilities required by marketers in the post-privacy world.
About 3radical
3radical is a provider of consumer data acquisition and audience engagement solutions. Their Voco platform enables organizations to listen to their consumers and adapt experiences accordingly by earning consented data directly from their audience. Through gamification software, 3radical facilitates choice-driven journeys that foster humanized interactions and fair value exchange. The company operates globally and serves major brands across various industries.
