Electric Guitar PLC (AIM:ELEG) on Friday made its debut on the AIM market for junior stocks after completing the acquisition of first-party data specialist 3radical and successfully closing a £1.32 million fundraiser.
3radical has created a software-as-a-service platform called Voco, which enables organisations to engage individuals and request their data directly using progressive and interactive digital experiences, at scale.
This 'consented' data will be critical to marketers as regulation makes it difficult for search and social media to amass information in the intrusive manner it is done currently.
3radical's solutions also allow users to script "compelling customer experience, optimising communications, designing products and services, and, ultimately, driving revenues".
Chief executive John Regan said of the acquisition and listing: "Today marks an important milestone as our shares are admitted to trading on AIM.
"Our decision to pursue this path reflects our confidence in the potential for growth that lies ahead.
"With this enhanced access to growth capital for further investment and acquisitions alongside our initial acquisition of 3radical, coupled with a successful fundraising today, we have made a robust start on our strategy of building a leading provider of first-party data solutions for the digital marketing and advertising industry, in the context of the seismic shift in online marketing away from third-party cookies."
In early trading, the shares were up 1.25% at 2.02p.