C3.ai Inc. (AI) and privately held Automation Anywhere have entered into discussions about a potential merger, a development first reported by Reuters and The Information on January 28, 2026. The talks are unverified, and neither company has issued a formal statement, but the reports suggest that Automation Anywhere would acquire C3.ai, potentially using the transaction as a reverse‑listing vehicle to go public.
C3.ai is an enterprise AI software provider whose market capitalization was around $1.77 billion on the day of the report, while Automation Anywhere was valued at approximately $6.8 billion by private investors in 2019. C3.ai’s financials show a trailing‑12‑month operating margin of –117.16 % and a net margin of –108.06 %, with a gross margin of 51.76 %. Revenue growth has been declining, and the company’s stock closed at $12.60 on January 27, 2026, before a 16 % pre‑market jump on the day of the merger rumor.
The strategic logic behind the talks is to combine C3.ai’s agentic AI platform—designed to embed autonomous decision‑making into enterprise software—with Automation Anywhere’s leading robotic process automation (RPA) solutions. The RPA market is projected to grow from $4.68 billion in 2025 to $35.84 billion by 2033, and integrating AI is a key trend that could create a more comprehensive automation offering. For C3.ai, the merger could provide a liquidity event and a path to scale its AI platform, while for Automation Anywhere it would bring a proven AI engine and a broader customer base.
Following the reports, the market reacted strongly: C3.ai’s shares surged more than 15 % in pre‑market trading on January 28, 2026, reflecting investor optimism that the deal could resolve the company’s financial pressures and unlock value. The rally was driven almost entirely by the merger rumor, with analysts noting that a reverse listing would give Automation Anywhere a public platform and potentially improve its valuation relative to its private peers.
If the talks progress to a definitive agreement, the combined entity would be positioned to compete more effectively in the fast‑growing AI‑enabled automation space, leveraging C3.ai’s high‑margin AI services and Automation Anywhere’s established RPA customer base. However, the deal would also require significant integration work and could expose both companies to regulatory scrutiny, given the size of the transaction and the strategic importance of the technology involved. Investors will be watching closely for any formal confirmation and for details on the transaction structure, valuation, and potential synergies.
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