Brave Bison Group plc (LSE:BBSN) has confirmed it is in discussions regarding a possible acquisition of System1 Group plc, with the proposed transaction aimed at creating what the company describes as AIM’s challenger marketing data and technology business.
The proposal would see Brave Bison acquire the remaining 72% of System1 that it does not already own through a combination of cash and newly issued shares.
Proposed Offer Values System1 at £43.1 Million
Under the indicative terms, System1 shareholders would receive 68 pence in cash together with 2.7553 new Brave Bison shares for each System1 share held.
The proposal values System1 at approximately £43.1 million and represents a premium of around 65% to the company’s undisturbed share price.
If completed, System1 shareholders would own roughly 19% of the enlarged business, while Brave Bison said no additional equity fundraising would be required to complete the transaction.
Combined Business Targets Greater Scale
The enlarged group would generate pro forma net revenue of approximately £79 million and adjusted EBITDA of around £14 million, according to the companies.
Brave Bison intends to organise the combined business into three AI-enabled marketing divisions covering marketing effectiveness, marketing skills and training, and full-funnel digital marketing services.
Management believes the transaction could deliver operational cost synergies while creating a more diversified business with a higher-margin revenue mix.
The larger group is also expected to benefit from improved share liquidity and could become eligible for inclusion in the AIM 100 Index, potentially increasing its appeal to institutional investors.
Financial Recovery Supports Growth Strategy
Brave Bison has strengthened its financial performance following a turnaround in recent years, supported by strong revenue growth during 2025 and a relatively low level of debt.
Technical indicators also remain favourable, reflecting positive share price momentum.
However, the company’s valuation remains relatively demanding, while fluctuations in profitability and cash generation continue to present risks as management pursues further expansion.
About Brave Bison
Brave Bison Group plc is a digital marketing and technology company providing services across performance marketing, social media, influencer marketing and data-driven customer insights.
The business focuses on AI-enabled marketing solutions for enterprise customers across the UK, Europe and the United States and plans to structure its operations around marketing effectiveness, professional training and end-to-end digital marketing services.
Leave a Reply