AICoin AI: C3.ai Stock Soars on Merger Buzz with Automation Anywhere
C3.ai shares surged 8-10% in premarket trading following reports of early-stage merger discussions with Automation Anywhere. The potential deal, first reported by The Information, could see the privately held Automation Anywhere acquire the publicly traded AI software provider.
No financial terms have been disclosed, and talks remain preliminary. The transaction structure under consideration WOULD take the combined entity public, providing Automation Anywhere with a path to public markets. C3.ai's $1.77 billion market cap makes it an accessible target for Automation Anywhere, which was last valued at $6.8 billion in 2019.
The news comes as C3.ai faces significant market pressure, with shares down 61% over the past year amid competitive challenges and ongoing losses. Automation Anywhere, meanwhile, reported strong third-quarter results with AI-related bookings growing 45% year-over-year while maintaining profitability.
