On Friday 17th July 2020 Genius Group announced it has completed the acquisition of Entrepreneur Resorts Ltd, comprising luxury resorts and lodges, beach clubs and city co-working hubs for $32.6 million.
The acquisition results in a combined entrepreneur education group with over 1.4 million students in 200 countries, and a faculty of 2,000 mentors guiding students to launch and grow their own businesses.
Genius Group, a Singapore based public company, also owns the GeniusU edtech platform, Genius Institute and the Genius School companies. It has been experiencing 25% month-on-month growth during the COVID-19 crisis, as many affected by the crisis have turned to online education to start businesses and reskill themselves.
Parents have also been turning to Genius School to supplement their children’s education with online entrepreneur camps.
Entrepreneur Resorts Ltd, a publicly listed company on the Seychelles Merj Exchange, exchanged investors shares for shares in Genius Group, with the group now valued at US$96 million.
Entrepreneur Resorts Ltd is a group of entrepreneur focused luxury resorts and lodges, beach clubs and city co-working hubs, offering business leaders professional educational retreats in exotic destinations around the world, including Singapore, Bali, South Africa and the Czech Republic.
Its location includes a safari retreat and ski lodge for 2-4-week experiential learning programs.
Roger James Hamilton, CEO of Genius Group and Entrepreneur Resorts, comments:“The coronavirus pandemic is a global crisis that has created major challenges in unemployment, our education system and the future of work.
“Our mission at Genius Group is to create a 21st century education system where students can learn how to create a job instead of getting a job. One that fits their talents, passions and purpose. That includes connecting together in safe environments in a post-crisis world. The acquisition of Entrepreneur Resorts is an important step towards that.”
With the acquisition, Sandra Morrell, COO, and Jeremy Harris, CFO, of Entrepreneur Resorts Limited, are both joining the board of Genius Group. Daniel Acutt is the Global Investments Manager for Genius Group.