Microsoft buying speech recognition firm Nuance in USD 16 bn deal
PTI, Apr 12, 2021, 6:57 PM IST
New York: Microsoft, on an accelerated growth push, is buying speech recognition company Nuance in a deal worth about USD 16 billion.
Microsoft will pay USD 56.00 per share cash. That’s a 23 percent premium to Nuance”s Friday closing price. The companies value the transaction at USD 19.7 billion, including debt.
Shares of Nuance surge about 23 percent in Monday premarket trading.
Microsoft’s acquisition of Nuance comes after the companies formed a partnership in 2019.
The Redmond, Washington, company said that the deal will double its total addressable market in the health care provider industry, bringing its total addressable market in health care to nearly USD 500 billion.
The transaction is Microsoft”s second-largest deal following its USD 26 billion purchase of LinkedIn in 2016. Last September, it bought for video game maker ZeniMax for USD 7.5 billion.
Mark Benjamin will continue as Nuance CEO.
The transaction is expected to close this year. It still needs approval from Nuance shareholders.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
Four-day market rally makes investors richer by Rs 8.48 lakh crore
Kotak Bank barred from onboarding customers online, issuing fresh credit cards
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
MUST WATCH
Latest Additions
NIA arrests key accused in 2023 attack on Indian High Commission in London
Three persons run over by train in Bengaluru
Indian nationals aboard ‘MSC Aries’ in good health, return delayed due to technicalities: MEA
Husband has no control over wife’s ‘stridhan’: SC
IT sleuths threatening raided leaders to claim money belongs to me, Cong: DK Shivakumar