SINGAPORE, Jan. 24, 2024 (GLOBE NEWSWIRE) — Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, and FatBrain AI (“FatBrain AI”) an AI SaaS and Solutions company (OTCMKTS:LZGI) today signed a definitive merger agreement to power ecosystems of tomorrow for entrepreneurs, enterprises, governments and students through AI education and enablement.
The to be combined businesses are preliminarily estimated to have achieved approximately $80 million of gross revenue in 2023, up over 100% year-on-year (unaudited). Genius Group and FatBrain AI together enable an exponential growth cycle with AI edtech platform supporting over a five million student and a fifteen thousand partner marketplace joining peer intelligence and AI solutions across energy, finance, logistics, manufacture, retail, tech and telco sectors delivered to SMEs, enterprises and government institutions.
Roger Hamilton, CEO of Genius Group said “This to be completed merger between Genius Group and FatBrain AI accelerates our plans to deliver a full lifelong learning, entrepreneurial education system to prepare humanity for the AI future. Our businesses share a common vision of enabling entrepreneurs and enterprises to accelerate their progress. Joining forces, in turn, accelerates our business with substantial growth in anticipated pro forma revenues and profitability.”
Peter B. Ritz, co-founder of FatBrain AI said “We see high demand for a combination of AI education and acceleration, enabling individuals, companies and governments with the AI training and AI solutions to create the exponential ecosystems of tomorrow. The need for upskilled, trained teams across enterprises and governments in the age of AI continues to accelerate, and we’re excited to meet this growing, global demand.”
Our full end-to-end AI Education and Acceleration ecosystem, has four global revenue drivers focused at B2S (Students), B2C (Entrepreneurs), B2B (Enterprises) and B2G (Governments):
- B2B – For Students: Government and company funded AI camps and accelerators together with a scholarship fund for young students at high school and university level to learn future-focused skills, both virtual and in-person, personalized with their Genie AI. The Genius Curriculum progress through to full undergraduate and masters degree programs integrating with personalized gamified and Genius Metaversity, with AI-driven learning libraries shared across participating students and institutions.
- B2E – For Entrepreneurs: Full suite of upskilling courses in AI, exponential technologies and entrepreneurship, delivered by certified trainers and partners globally, ranging from AI Microschools to three-month in-house accelerators, linked with the Genius Scholarship to connect student apprentices with entrepreneurs and enterprises, and linked to FatBrain AI’s SAAS solutions to share peer intelligence, industry trends and leaderboards.
- B2B – For Businesses: Enterprise portal and suite of upskilling courses for companies to upskill their workforce in AI, exponential technologies and entrepreneurship, delivered in-house, in-person and via the GeniusU Edtech platform, giving companies AI-powered insights into their workforce’s personalized talent development progress and access to FatBrain AI’s SAAS solutions to increase peer intelligence and productivity.
- B2G – For Governments: A full AI education ecosystem providing participating cities, regions and national governments with a full AI-driven, lifelong learning system for future-focused education and upskilling, with direct benefits in increased skills, competitiveness and shared intelligence within the rapidly changing Age of AI and Exponential Technologies.
The merger has been approved by the boards of both companies, a definitive agreement has been signed and the merger will close subject to fulfillment of certain closing conditions, including, but not limited to, shareholder and NYSE approval.
Following the closing of the merger, FatBrain AI’s CEO, Peter B. Ritz, and Executive Chair, Michael T. Moe, will join Genius Group’s Board. Peter B. Ritz is co-founder of FatBrain AI and earlier Exec Chair of Observable Networks (acquired by Cisco). Michael T. Moe is Founder of GSV, an early investor in Edtech companies including Coursera, Chegg, Course Hero, Masterclass, and private investor in companies such as Meta, Twitter, Spotify, Coursera and Palantir.
About Genius Group
Genius Group is a leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed. Through its learning platform, GeniusU, the Genius Group has a member base of 5.4 million users in 200 countries, ranging from early age to 100.
For more information, please visit https://www.geniusgroup.net/
About FatBrain AI
FatBrain AI provides powerful and easy-to-use AI solutions to empower the enterprise stars of tomorrow to grow, innovate, and drive the majority of the global economy. FatBrain’s AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, large language models, cloud and blockchain technologies into auditable, explainable and easy to integrate AI solutions. FatBrain’s subscriptions allow all companies to deploy its advanced AI solutions quickly, easily, and securely behind their firewalls or via cloud. FatBrain’s global delivery includes 600+ team across design, development centers in the US, UK, India and Kazakh Republic.
For more information, please visit https://Fatbrain AI/
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