Microsoft Acquires Speech Recognition Firm Nuance For $16 Billion

• By Anton Grillo
• (General Dispatch) –    Aiming to further advance the technological cutting edge Microsoft is buying speech recognition company Nuance for $16 billion, paying $56 per share in cash.

• The agreement came after the two companies established a business partnership in 2019. The corporations’ aspirations are to double their market.

• Nuance’s product range includes Dragon Medical One, Dragon Ambient eXperience, and PowerScribe One, geared for radiology reporting, is sponsored and created by Microsoft.

• “Artificial intelligence is technology’s most important priority, and healthcare is its most urgent application,” Microsoft CEO Satya Nadella said in a statement.

• Simultaneously, Microsoft is looking to make inroads into a market that generates high demand for products required in healthcare, and what better time to do so than during a period of pandemic.

• It should be noted that the projections do not end with this agreement, as the company is already looking to the future, incorporating other technologies that will be announced at a later date.

• In this sense, the introduction of artificial intelligence is an essential element for achieving the strategic objectives that support the health area, said one of the forerunners of the partnership.

• Finally, it is expected that this year the company will further strengthen its agreements and work towards the wide-ranging objectives that will soon be available in the market.

Adittional Information:

AP News: Microsoft buying speech recognition firm Nuance in $16B deal

ABC News: Microsoft buying speech recognition firm Nuance in $16B deal