NEW
YORK, Jan. 24, 2024 /PRNewswire/ -- FatBrain AI
(LZG International, Inc., OTCMKTS: LZGI) (the "Company," or "we"),
the leader in powerful and easy-to-use AI solutions and Genius
Group Limited (NYSE American: GNS) ("Genius Group"), a leading
entrepreneur edtech and education group, 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 and
Palantir.
About FatBrain AI (LZG International, Inc.,
OTCMKTS:LZGI)
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, and 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://www.fatbrain.ai
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/
Forward Looking Statement
This release does not constitute an offer to sell or a solicitation
of offers to buy any securities of any entity. This release
contains certain forward-looking statements based on our current
expectations, forecasts and assumptions that involve risks and
uncertainties. Forward-looking statements in this release are based
on information available to us as of the date hereof. Our actual
results may differ materially from those stated or implied in such
forward-looking statements, due to risks and uncertainties
associated with our business, which include the risk factors
disclosed in our Form 10-K filed with the Securities and Exchange
Commission on September 13, 2022. Forward-looking statements
include statements regarding our expectations, beliefs, intentions,
or strategies regarding the future and can be identified by
forward-looking words such as "anticipate," "believe," "could,"
"estimate," "expect," "intend," "may," "should," and "would" or
similar words. All forecasts provided by management in this release
are based on information available at this time and management
expects that internal projections and expectations may change over
time. In addition, the forecasts are based entirely on management's
best estimate of our future financial performance given our current
contracts, current backlog of opportunities and conversations with
new and existing customers about our products and services. We
assume no obligation to update the information included in this
press release, whether as a result of new information, future
events or otherwise.
Contact
Brokers and Analysts:
Chesapeake Group
410-825-3930
info@chesapeakegp.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/lzgi-international-dba-fatbrain-ai-lzgi-and-genius-group-agree-to-merge-into-growth-platform-to-accelerate-the-exponential-economy-of-tomorrow-302043389.html
SOURCE LZG International, Inc.