Genius Group completes FatBrain AI merger

Genius Group (GNS) and FatBrain AI (LZGI), an AI SaaS and Solutions company, 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 $76M-$80M, and an anticipated increase of $4M in pro forma net profit guidance to $7M-$9M. 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.”