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 announced completion of their merger to form
an AI-powered Education and Acceleration group to power Sovereign
AI ecosystems of tomorrow for entrepreneurs, enterprises,
governments and students through AI education and enablement.
Following NYSE approval, Genius Group completed
the merger, acquiring FatBrain AI in an all-stock transaction.
Under the terms of the agreement, Genius Group has acquired the AI
software assets, customer relationships and specific operations of
FatBrain AI, with an anticipated increase of approximately 150% in
the Company’s 2023 pro forma revenue guidance to an estimated $76
million to $80 million, and an anticipated increase of $4 million
in pro forma net profit guidance to $7 million to $9 million.
Genius Group and FatBrain AI together enable a
‘Genius City’ exponential growth cycle with their AI edtech
platform supporting over five million students 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 “The
demand for AI and entrepreneurial skills continues to grow.
Countries and cities around the world are seeing these skills as
increasingly vital to be competitive in the age of AI. The desire
for Sovereign AI institutions where countries, cities and companies
can own their own data and build their own AI platform calls for
localized education platforms. While ‘Smart Cities’ have been
defined by the use of smart technology, our ‘Genius City’ model
calls for upskilled humans alongside smart technologies and puts
personalized education and peer intelligence at the heart of
driving growth.”
“UAE just committed $100 billion to be a world
leader in AI and recently hosted the World Governments Summit to
highlight the significance of Sovereign AI enabling localized LLMs
to maintain unique culture, values and data integrity. Singapore
also leads with its AI strategy based on tripling their AI experts
through education and training funds, together with S$1 billion in
funding to implement their National AI Strategy 2.0. Our expanded
team is excited to launch the Genius City growth model to
accelerate the Sovereign AI reach into 100 Genius City operations
as part of our goal to educate 100 million AI learners
worldwide.”
Peter B. Ritz, co-founder of FatBrain AI said
“Our FatBrain AI investors and global team are excited to become
part of the Genius Group. As the need for upskilling and training
in this age of AI accelerates, and we’re looking forward to an
exciting future ahead where our combined companies will enable us
to meet the massive growing, global demand for Sovereign AI and
peer intelligence solutions.”
“We look forward to the partnerships and
initiatives formed as part of our Genius City growth plans. We’re
excited to build critical assets driving the economies of tomorrow:
the global Genius City peer intelligence systems boosted by our
entrepreneur education platform to share insights, talent and
opportunities between countries and cities, accelerating their
progress in harnessing exponential technology to become economic
and social leaders of the future.”
Following a successful visit to Dubai and Abu
Dhabi in February by Genius Group’s Roger Hamilton together with
FatBrain AI Board Members, Peter Ritz and Michael Moe, the newly
merged group will launch their Genius City model in April 2024 with
the Dubai Genius City and Abu Dhabi Genius City, followed by the
Singapore Genius City, each with a target to educate and impact one
million students, entrepreneurs and enterprises within each city
within a year of launch.
The merger enables the companies to combine
Genius Group’s AI-driven Edtech platform with FatBrain AI’s
AI-driven peer intelligence, sector-specific SaaS solutions to SMEs
(Companies with 500 or less employees), larger enterprises and
governments, creating a full ‘Genius City’ end-to-end AI Education
and Acceleration ecosystem, with 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
master’s degree programs integrating with personalized gamified and
Genius Metaversity, with AI-driven learning libraries shared across
participating students and institutions.
- B2C – 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
Enterprises: 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.
- B2C – 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.
With the closing of the merger, FatBrain AI’s
CEO, Peter Ritz, and Chairman, Michael Moe, will join Genius
Group’s Board. Peter B. Ritz is a co-founder of FatBrain AI and
earlier exec chair of Observable Networks (acquired by Cisco), and
Michael Moe is Founder and CEO of GSV Ventures, an early investor
in Edtech companies including Coursera, Chegg, Course
Hero, Masterclass, and Guild Education.
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/
Investor Notice
Investing in our securities involves a high
degree of risk. Before making an investment decision, you should
carefully consider the risks, uncertainties and forward-looking
statements described in our most recent Annual Report on Form 20-F,
as amended for the fiscal year ended December 31, 2022, filed with
the SEC on June 6, 2023 and August 3, 2023. If any of these risks
were to occur, our business, financial condition or results of
operations would likely suffer. In that event, the value of our
securities could decline, and you could lose part or all of
your investment. The risks and uncertainties we describe are not
the only ones facing us. Additional risks not presently known to us
or that we currently deem immaterial may also impair our business
operations. In addition, our past financial performance may not be
a reliable indicator of future performance, and historical trends
should not be used to anticipate results in the future. See
"Forward-Looking Statements" below.
Forward-Looking Statements
Statements made in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements can be
identified by the use of words such as “may,” “will”, “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which the Company cannot predict with accuracy and some of which
the Company might not even anticipate and involve factors that may
cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on
these forward-looking statements and are advised to consider the
factors listed above together with the additional factors under the
heading “Risk Factors” in the Company's Annual Reports on Form
20-F, as may be supplemented or amended by the Company's Reports of
a Foreign Private Issuer on Form 6-K. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or
otherwise.
Contacts
US Investors: Dave GentryRedChip Companies
Inc1-800-RED-CHIPGNS@redchip.com
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