WASHINGTON (Reuters) - Microsoft Corp has won U.S. antitrust approval for its deal to buy artificial intelligence and speech technology company Nuance Communications Inc, according to a filing made by Nuance to the government. The $16 billion deal, which was announced in April, came after the companies partnered in 2019 to automate healthcare administrative work, such as documentation.
In early April, Microsoft (MSFT) announced a blockbuster $19.7-billion acquisition of Burlington, Massachusetts-based healthcare-focused cloud and AI provider Nuance Communications (NUAN).“Nuance provides the AI layer at the health care point of delivery and is a pioneer in the real-world application of enterprise AI,” Microsoft CEO Satya Nadella said of the acquisition.
While some of the powerhouses of the past 30 years have struggled, leaders such as Microsoft, Google, Facebook, and Apple have gone from strength to strength.This deal by Microsoft further shows it exerting its muscle by paying a premium for industry-specific dominance.Interest rates are low.
For the past 15 years, Nuance has been the largest independent speech recognition vendor servicing healthcare and enterprise customer service markets.With this acquisition, Microsoft gets serious healthcare chops, an arsenal of conversational AI assets (including voice biometrics), digital customer service technologies, and other assets like vehicle telematics and dictation.
Microsoft's M&A appetite is keeping Simpson Thacher & Bartlett lawyers busy again.The software giant announced Monday that it will buy healthcare artificial intelligence platform Nuance, which is being represented by Paul, Weiss, Rifkind, Wharton & Garrison.Nuance's financial advisor Evercore is being represented by Kirkland & Ellis.
Microsoft is to buy the artificial intelligence and speech technology firm Nuance Communications for about $16bn (£12bn), as it builds up its cloud-computing operation for healthcare and business customers.Nuance, known for pioneering speech technology and helping to launch Apple’s virtual assistant, Siri, operates in 28 countries and reported revenues of $1.5bn in its last full financial year.
Nuance's technology uses voice recognition, AI and natural language processing to streamline healthcare processes.Nuance will bolster Microsoft's Cloud for Healthcare significantly.Microsoft's move to pay $19.7 billion in cash for Nuance Communications is a bet that it can be a digital healthcare operating system that pulls its cloud portfolio into an industry being transformed.
By Press Association 2021 Microsoft is buying speech recognition company Nuance in a deal worth about 16 billion US dollars (£11.6 billion).It will pay 56.00 dollars (£36.31) per share cash, a 23% premium on Nuance’s Friday closing price.The companies value the transaction at 19.7 billion dollars (£14.3 billion), including debt.
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Microsoft Corp. (NASDAQ: MSFT) on Monday announced that it will acquire speech recognition software maker Nuance Communications Inc. (NASDAQ: NUAN) in an all-cash deal valued at $19.7 billion.The deal is second in size only to Microsoft’s $26.2 billion acquisition of LinkedIn in 2016.
Price being discussed could value Nuance at about $56 a share, source says Microsoft Corp is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc according to people familiar with the matter.An agreement could be announced as soon as this week, said the people, who asked not to be identified because the information is private.
(Reuters) -Microsoft Corp is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc at about $16 billion, according to a source familiar with the matter.The price being discussed could value Nuance at about $56 a share, the source said, adding that an agreement could be announced as soon as Monday.