The business is headquartered in Massachusetts but has offices around the world, including a base in Dublin that was opened in 2012. Its market cap as of this morning was just under $13bn. It reported $346m in revenue last quarter with $7m in profits. Nuance, a Nasdaq-listed company, develops speech recognition technology that’s used by healthcare clients, government agencies and customer support services.įounded in 1992, the company has been a long-time player in the field. The potential deal, which could be announced as soon as today (12 April), was reported by multiple outlets over the weekend.
Microsoft is reportedly close to clinching a deal to acquire voice-tech company Nuance Communications for $16bn. The deal follows Microsoft’s recent $7.5bn acquisition of the gaming company ZeniMax Media, and reports that it was in talks to buy the messaging platform Discord, which also allows live audio events.Ī deal for Nuance would be Microsoft’s second-biggest, after its $26.2bn acquisition of LinkedIn in 2016.The tech giant is said to be in the midst of acquisition talks that could see it buy the long-time player in the voice-technology space. Nuance shares were up 16.8% at $53.24 around midday in New York on Monday. Microsoft’s offer of $56 a share represents a premium of 22.86% on Nuance’s most recent closing price.
The deal comes after the companies went into partnership in 2019 to automate clinical administrative work such as documentation.
The Massachusetts-based company said it served 77% of US hospitals, providing services including clinical speech recognition, medical transcription and medical imaging. 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. 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.
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