Bethesda, MD-based iLearningEngines and Arrowroot Acquisition announced a merger agreement at a pro forma implied enterprise value of $1.4 billion.

The target provides ai-powered learning automation and information intelligence for corporate and educational use.

If the deal is approved, iLearningEngines would list on the nasdaq under new ticker symbol AILE.

Arrowroot raised $250 million in a February 2021 ipo although redemptions have eroded the trust significantly since then. Read more.

Source: Arrowroot Acquisition Merging with iLearningEngines in .4B Deal