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.
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 this news 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.
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