People familiar with the conversations have told a technology news outlet that privately held Automation Anywhere is in talks to merge with C3.AI, the enterprise artificial intelligence software company, according to the report. The discussions reportedly envision Automation Anywhere buying C3.AI, with the transaction resulting in Automation Anywhere becoming a public company.
Reuters said it could not immediately verify the account and noted that both C3.AI and Automation Anywhere did not promptly respond to requests for comment. The report that prompted the disclosures cited unnamed sources familiar with the negotiations.
California-based C3.AI supplies a platform used to build and operate large-scale AI applications. The company’s software is deployed across parts of the U.S. government, including work with the U.S. Air Force, and finds customers in sectors such as energy and manufacturing, according to the report.
Automation Anywhere is known for software that automates repetitive tasks. The report also cited a 2019 private valuation that placed Automation Anywhere at $6.8 billion.
Late last year, Reuters reported that C3.AI was exploring a possible sale and other strategic options after founder Thomas Siebel stepped down as chief executive. The company’s shares have declined substantially over the past year, with a fall of more than 59 percent amid deteriorating financial results and questions about its strategy and leadership.
The account in the report did not include confirmation from either firm and remains unverified by independent reporting. The future status of any talks, the timeline for a transaction, and terms that might be negotiated were not described in the reporting.
Separately, the original report included a promotional note about an AI-driven stock selection service that evaluates companies across many financial metrics and highlights investment ideas. That promotional material presented past performance examples for other companies and an offer tied to a New Year’s sale. No company comment on the reported merger discussions was provided in connection with that material.
Summary
Automation Anywhere is reported to be in acquisition talks to buy C3.AI, which would result in Automation Anywhere becoming a public company if the deal is completed. Reuters has not independently verified the report and both companies did not immediately comment. C3.AI supplies enterprise AI tools used in government and industrial settings; Automation Anywhere makes software to automate routine tasks and was privately valued at $6.8 billion in 2019. C3.AI has recently faced leadership changes and a significant share-price decline.