Reportedly, Microsoft (MSFT) is in advanced talks to buy Nuance Communications Inc, an artificial intelligence and speech technology company. The deal could value Nuance at about $56 a share, subject to change in terms.
Microsoft and Nuance have been in collaboration since 2019 on technologies to do things like allowing doctors to capture voice conversations from patients and store the data into electronic medical records.
“This can really help Microsoft accelerate the digitization of the healthcare industry, which has lagged other sectors such as retail and banking. The biggest near-term benefit that I can see is in the area of telehealth, where Nuance transcription product is currently being used with Microsoft Teams.” stated Anurag Rana, a Bloomberg Intelligence senior analyst.
The deal with Nuance would rank as Microsoft’s second-largest acquisition, behind $24 billion LinkedIn Corp according to data compiled by Bloomberg. Recently, the company has involved thousands of employees in its artificial intelligence work and launched tools that can be used to build applications that understand and translate speech, detect anomalies, and recognize images. Microsoft views AI as a key driver of future sales of cloud services.
Redmond, Washington-based American multinational technology company Microsoft (MSFT) develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services. To learn more about Microsoft (MSFT) and to track their progress please visit the Vista Partners Coverage Page.
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