According to a Reuters report, C3.ai is said to be in discussion to be acquired by Automation Anywhere.
- C3.ai stock saw a 122% increase in retail chatter on Stocktwits over the last 24 hours.
- The company’s client list includes government agencies such as the U.S. Air Force.
- In December, the U.S. Department of Health and Human Services (HHS) chose the company to build a data platform for NIH.
C3.ai Inc. (AI) is drawing attention on Wednesday after the company is said to be in early discussions to be acquired by privately held automation software company Automation Anywhere.
C3 AI provides business-focused AI software with tools that help organizations build, launch, and manage AI systems.
Following the report, C3 stock traded over 17% higher in Wednesday’s premarket.
Potential Deal Structure
According to a Reuters report, Automation Anywhere is exploring a transaction to acquire C3.ai and use the deal as a pathway to becoming a publicly traded company.
The company’s client list includes government agencies such as the U.S. Air Force, as well as companies in energy production and industrial manufacturing, according to the report.
Automation Anywhere focuses on robotic process automation software that allows businesses to reduce manual, repetitive work. The company was valued at approximately $6.8 billion in a 2019 private funding round.
What are Stocktwits Users Saying
On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory amid ‘high’ message volume levels.
The stock also saw a 122% surge in retail messages over the last 24 hours.
A Stocktwits user predicted an increase in the stock price.
Another user said the news could be the beginning of better days for the stock.
In December, the U.S. Department of Health and Human Services (HHS) selected the company to build a secure, scalable data platform for the National Institutes of Health (NIH) and the Centers for Medicare & Medicaid Services (CMS).
AI stock has declined by over 61% in the last 12 months.
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