NEW YORK : Training software company iLearningEngines Inc agreed to go public through a merger with blank check company Arrowroot Acquisition Corp in a deal that values the combined company at $1.4 billion, people familiar with the matter said on Thursday. The deal, which is expected to be announced later
NEW YORK : Training software company iLearningEngines Inc agreed to go public through a merger with blank check company Arrowroot Acquisition Corp in a deal that values the combined company at $1.4 billion, people familiar with the matter said on Thursday.
The deal comes at a time when the business potential for artificial intelligence software has attracted massive interest from the world's largest investors, as the popularity of futuristic chatbots like ChatGPT has surged in recent months. Based in Bethesda, Maryland, iLearningEngines supplies companies with personalized training materials using AI-powered automation tools and software. It provides services to companies in various sectors including healthcare, education, energy and transportation.
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