Wednesday, 24th January 2024 – 10:00am (GMT)

The transaction values Fusemachines at $200 million, with the company expected to go public in the second quarter of 2024

Fusemachines Inc., a leading provider of enterprise AI products and solutions and CSLM Acquisition Corp. (NASDAQ: CSLM), a special purpose acquisition company, have announced the signing of an agreement that will see Fusemachines listed as a public company.

DAI Magister advised on the transaction, working alongside both Fusemachines and CSLM to form the partnership that brought about the deal’s conclusion.

The final closure of the transaction is subject to stockholder approval from both Fusemachines and CSLM, alongside other standard closing conditions, with the company expected to be listed on Nasdaq under the ticker symbol “FUSE”.

Founded in Nepal in 2013, Fusemachines is a global provider of Enterprise AI products with a mission to democratise AI and drive clients’ AI transformations, regardless of where they are in their digital journeys. The milestone announcement makes Fusemachines the first Nepalese company to list on Nasdaq.

Victor Basta, CEO of DAI Magister, said: “It’s a privilege to have been involved in such a transformational deal, and we are proud to have been a part of what is a milestone transaction for Nepal as a nation.”

“Fusemachines will soon become one of the very few pure play AI stocks listed on Nasdaq, and is set to benefit from the secular trend of enterprises adopting AI across their business processes. I’m excited to see how this listing facilitates the continued growth of Fusemachines, and how the company’s progress brings the revolutionary benefits of AI to more organisations.”

Sameer Maskey, CEO and Founder of Fusemachines, continued: “Being listed on NASDAQ is a pivotal milestone for us and a historical one for any company of Nepalese origin. Our business combination with CSLM positions us to strategically lead the way in shaping the future of democratising AI and leaving a lasting impact across industries. The additional capital and financial flexibility from this transaction will empower improved products and fuel growth and expansion.”

Charles Cassel, CEO and CFO of CSLM commented: “We have been methodically searching to identify a long-term, co-investment opportunity for our affiliates, and we are very excited to be partnering with Fusemachines. With significant operations in Nepal, their cutting-edge development of AI engines and solutions for US and developed market enterprise clients is precisely the profile that we believe embodies the impact that investors can make and profit from in high growth opportunities available in Frontier and Emerging Markets.”



Notes to editors

About DAI Magister
DAI Magister helps clients transform our world one transaction at a time, through essential guidance, creative insights and rigorous execution.

Backed by DAI, one of the largest global development firms, DAI Magister is a boutique investment bank offering full advisory services for transactions within the climate, deep tech, fintech, tech-enabled commerce and communications tech sectors.

From New York and London to Nairobi, we support CEOs and their investors by identifying and curating the right relationships to help grow, scale, and manage their business.

DAI Magister focuses on advising international technology and climate companies, developing and executing growth financings and strategic sell-side M&A. No matter the challenge or complexity of a transaction, DAI Magister’s exceptionally high success rate makes it a reality.

About Fusemachines
Founded in 2013, Fusemachines is a global provider of enterprise AI products and solutions on a mission to democratize AI. Leveraging proprietary AI Studio and AI Engines, the company helps drive the clients’ AI Enterprise Transformation, regardless of where they are in their Digital AI journeys. Under the leadership of chief executive officer and founder, Dr. Sameer Maskey, PhD, Adjunct Associate Professor at Columbia University, Fusemachines continues to actively pursue the mission of democratizing AI for the masses by providing high quality AI education in underserved communities and helping organizations achieve their full potential with AI. Fusemachines is headquartered in New York with operations across Asia, Canada, USA and Latin America.

About CSLM Acquisition Corp.
CSLM Acquisition Corp. is a Special Purpose Acquisition Company commonly known as a blank-check company formed to effect a business combination with a company in the technology, digital media, e-commerce, financial technology, or digital services sectors and that has significant impact or operations in the emerging markets.  Its sponsor is affiliated with Consilium Investment Management (CIM), a boutique, SEC-registered investment advisor formed in 2004 that gives discerning institutional investors differentiated sources of alpha by giving them equity exposure to Frontier and Emerging Markets that are typically under-represented in portfolios.

Press contacts
Joe Jordan / Lawrence Rosenberg / Rebecca Moreland
Tel: +44 (0)207 388 9988


Additional Information and Where to Find It

In connection with the Proposed Business Combination with Fusemachines, CSLM intends to file with the SEC a Registration Statement on Form S-4, which will include a proxy statement to be sent to CSLM stockholders and a prospectus for the registration of CSLM securities in connection with the Proposed Business Combination (as amended from time to time, the “Registration Statement”). A full description of the terms of the Proposed Business Combination will be provided in the Registration Statement. CSLM urges investors, stockholders and other interested persons to read, when available, the Registration Statement as well as other documents filed with the SEC because these documents will contain important information about CSLM, Fusemachines and the Proposed Business Combination. If and when the Registration Statement is declared effective by the SEC, the definitive proxy statement/prospectus and other relevant documents will be mailed to shareholders of CSLM as of a record date to be established for voting on the Proposed Business Combination. Stockholders and other interested persons will also be able to obtain a copy of the Registration Statement, without charge, by directing a request to: CSLM Acquisition Corp., 2400 E. Commercial Boulevard, Suite 900, Ft. Lauderdale, FL 33308. The preliminary and definitive proxy statement/prospectus, once available, can also be obtained, without charge, at the SEC’s website ( The information contained on, or that may be accessed through, the websites referenced in this communication is not incorporated by reference into, and is not a part of, this communication.

No Offer or Solicitation

This employee communication shall not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any vote, consent or approval in any jurisdiction in respect of the Proposed Business Combination, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This employee communication does not constitute either advice or a recommendation regarding any securities. No offering of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.

Participants in the Solicitation

Fusemachines and CSLM and their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the Proposed Business Combination described herein under the rules of the SEC. Information about the directors and executive officers of CSLM and a description of their interests in CSLM and the Proposed Business Combination are set forth in CSLM’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 31, 2023, and which can be obtained free of charge from the sources indicated above. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to CSLM’s stockholders in connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination, when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the Proposed Business Combination will be included in the proxy statement/prospectus that CSLM intends to file with the SEC. You may obtain free copies of these documents as described above.



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