Microsoft has officially announced that it has reached an acquisition agreement with Nuance Communications, which is valued at approximately $19.7 billion. The deal should strengthen Microsoft’s position in the cloud, artificial intelligence, and healthcare industries by leveraging Nuance’s expertise.
Microsoft CEO Satya Nadella tweeted that “artificial intelligence is one of the top technology priorities, and healthcare is the most urgent application.” He also added that “Nuance is providing AI technology to the healthcare industry and is a pioneer in applying AI to the corporate sector.”
AI is technology’s most important priority, and healthcare is its most urgent application. Together with @NuanceInc, we will put advanced AI solutions into the hands of professionals to drive better decision-making and create more meaningful connections. https://t.co/ipdP6qZTx9
— Satya Nadella (@satyanadella) April 12, 2021
It is expected that all formal procedures regarding the transaction will be completed by the end of this year. Mark Benjamin, CEO of Nuance, will remain in office until the Microsoft Cloud division takes over the company. It is unclear what will happen to Nuance projects, but many of them will likely become part of various Microsoft services.