Microsoft in talks to buy AI firm Nuance Communications for $16 billion

Platform News: Software titan Microsoft building

Microsoft Corp is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications for 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.

Bloomberg News, which first reported the deal between Nuance and Microsoft, said talks are ongoing and the discussions could still fall apart.

The Burlington, Massachusetts-based Nuance whose voice recognition technology helped launch Apple’s assistant Siri, makes software for sectors ranging from healthcare all the way through to the automotive industry.

The proposed deal with Nuance Communications would be Microsoft’s second-biggest deal, after its $26.2 billion acquisition of LinkedIn in 2016.

Microsoft and Nuance did not immediately respond to journalists’ request for comment on the matter.

The team at Platform Executive hope you have enjoyed the ‘Microsoft in talks to buy AI firm Nuance Communications for $16 billion‘ article. Translation from English to a growing list of other languages via Google Cloud Translation. Initial reporting via our official content partners at Thomson Reuters. Reporting by Radhika Anilkumar in Bengaluru and Krystal Hu in New York. Editing by Daniel Wallis and Lisa Shumaker.

Related Article:
EU justice chief urges tech giants to halt virus clickbait

Stay on top of all the latest developments across the platform economy and gain access to our problem-solving tools, proprietary databases and content sets by becoming a member of our community. For a limited time, subscription plans start from just $16 per month.

Share this Article