Tech giant Microsoft has purchased American firm Nuance Communications. Nuance Communications is an Artificial Intelligence and Speech Technology company, and Microsoft has acquired the company for about $16 billion.
Nuance Communications is an American multinational computer software technology corporation. It has its headquarters in Burlington, Massachusetts. Nunace Communications provides speech recognition technology as well as Artificial Intelligence. The company was founded 29 years ago in 1992 and was first called Visioneer. It merged with ScanSoft which was its competitor in the commercial large-scale speech application business in October of 2005.
According to Bloomberg while citing people familiar with the purchase, Microsoft should make an official announcement as soon as this week. Also, the post by Bloomberg mentioned that the price being discussed could value Nuance Communications at about $56 per share and is still subject to change. Bloomberg also added that while the talks between Nuance Communications which is based in Massachusetts, and Microsoft is still ongoing, it has the probability of falling out if it doesn’t go well at the end of the day.
Popular news site, Reuters requested for comments from both Microsoft and Nuance Communications but have gotten no information yet. Since Microsoft announced that it will buy Nuance Communications for $16 billion or $56 per share and a 22 percent increase over the previous closing price, there have been quite a lot of questions that need to be answered by either Microsoft or Nuance Communications. When Microsoft buys the company, the company’s CEO; Mark Benjamin will still be with the company. It will also be Microsoft’s second biggest deal ever. The company made its biggest deal in 2016 after it purchased employment-oriented online service platform, LinkedIn for $26 billion.