Tue Apr 13 2021
Microsoft are buying AI tech firm Nuance for nearly $20bn
cloudThing have just heard that Microsoft will be purchasing Nuance, the speech AI firm famous for helping to develop Apple’s Siri recognition software for around $19.7bn (£13.3bn) later this year.
That $19bn makes the purchase of Nuance Communications by Microsoft it’s second ever largest acquisition in its history, only being beat by the purchase of LinkedIn back in 2016.
Microsoft will be paying $56 per Nuance share as part of the deal, a price that is around 23% higher than Nuance were trading for last week.
Commenting on the purchase, Microsoft have said Nuance will help bolster their already strong software and AI expertise in the health sector.
The coronavirus lockdown has seen remote appointments with GP’s and specialists become common place and many leading experts expect the trend of ‘telehealth’ to continue.
Nuance provides the AI layer at the healthcare point of delivery. AI is technology's most important priority, and healthcare is its most urgent application.
Nearly 80% of US hospitals are already Nuance customers. Purchasing the firm will dramatically expand Microsoft's potential market in the health care industry.
Nuance are based in Massachusetts in the USA and were founded in 1992. Employing more than 1,600 globally, they’re already active in over 28 separate countries.
Most famous for their work on the AI speech application Siri, they’re also know as a speech recognition pioneer who have, in recent years, focussed a lot of their efforts on the health sector, developing software that helps to automate radiology reports or allowing doctors to more easily dictate patient notes.
Nuance executives are said to be delighted to be joining forces with Microsoft, stating the acquisition will help the firm broaden its cloud-based offerings and allow it to tap into Microsoft’s extensive global customer base.
Tue Apr 13 2021