Genius Group Limited, a prominent entrepreneur edtech and education conglomerate, and FatBrain AI, an AI SaaS and Solutions company, have formally agreed to merge. This strategic alliance aims to drive future ecosystems for entrepreneurs, enterprises, governments, and students by leveraging AI education and enablement. The combined businesses, with a preliminary estimate of around $80 million in gross revenue for 2023 (a year-on-year increase of over 100%), facilitate exponential growth. Together, Genius Group and FatBrain AI support a vast AI edtech platform serving over five million students and a marketplace with fifteen thousand partners. This collaboration integrates peer intelligence and AI solutions across various sectors like energy, finance, logistics, manufacturing, retail, technology, and telecommunications, catering to SMEs, enterprises, and government institutions.
Roger Hamilton, the CEO of Genius Group, remarked, "The impending merger between Genius Group and FatBrain AI expedites our efforts to provide a comprehensive lifelong learning and entrepreneurial education system, preparing humanity for the AI-driven future. Both our companies share a common vision of empowering entrepreneurs and enterprises to advance rapidly. By combining our strengths, we anticipate significant growth in pro forma revenues and profitability". Peter B. Ritz, co-founder of FatBrain AI, commented, "We observe a substantial demand for a fusion of AI education and acceleration, equipping individuals, companies, and governments with the necessary AI training and solutions to foster exponential ecosystems in the future".
The merger has received approval from the boards of both companies, with a definitive agreement signed. The completion of the merger is contingent upon meeting specific closing conditions, including, but not limited to, shareholder and NYSE approval. Once the merger concludes, Peter B. Ritz, CEO of FatBrain AI, and Executive Chair, Michael T. Moe, will become members of Genius Group’s Board. Peter B. Ritz, a co-founder of FatBrain AI and former Exec Chair of Observable Networks (acquired by Cisco), brings his expertise. Michael T. Moe, the Founder of GSV and an early investor in Edtech companies like Coursera, Chegg, Course Hero, Masterclass, and private investor in Meta, Twitter, Spotify, Coursera, and Palantir, also joins the board.
