Another company is likely to fall under the leadership of Microsoft. The subtleties, among other things, deal with speech recognition algorithms, but are also known for their chatbots answering questions about Covid-19, the company was originally scheduled to buy yesterday.
Microsoft reports the acquisition of Nuance in its materials CNBC. Everything shows that the company plans to expand the scope of its activities by acquiring already prosperous companies with interesting technological solutions. Microsoft may begin its plans to acquire Nuance in December last year, when Microsoft first contacted the company about the acquisition.
According to CNBC data, Microsoft plans to acquire Nuance at a price of $56 per share. This means that the value of Nuance’s equity is approximately $16 billion. Interestingly, if all this information is confirmed, Nuance will become Microsoft’s second largest acquisition. Earlier, the company decided to spend US$27 billion to acquire LinkedIn in 2016.
Nuance earns income by selling voice recognition and transcription tools during medical appointments, customer service calls or voice mail. According to the company, with the help of artificial intelligence-based technology, its customers can reduce up to 45% of their time on paperwork and record the entire patient’s medical history. This is to increase efficiency, reduce costs and improve the quality of clinical documentation obtained.
All transaction details may be announced today. The question remains how the acquisition of Nuance will affect Microsoft’s existing services. In particular, Microsoft already has its own tools that can convert speech into written text.