Microsoft's second most expensive acquisition ever is in speech recognition
Microsoft announces the largest transaction after Linkedin: it buys Nuance, a software house specialized in cloud and artificial intelligence
Microsoft's CEO, Satya Nadella, at the Microsoft innovation summit in Milan (photo: Instagram profile Microsoft Italy ) Microsoft has reached a definitive agreement for the purchase of Nuance for a total of 19.7 billion dollars: the two companies have announced it, specifying that the operation will be based on an expense of 56 dollars per share, about 23 % higher than last Friday's closing valuation and will also include the debts of the company, which specializes in cloud and artificial intelligence software. Notably, Nuance provides a speech recognition and transcription technology also used by Apple in Siri and, as Microsoft CEO Satya Nadella said, will have applications in healthcare.For the Redmond company it is the largest purchase since 2016 (Linkedin, 26 billion dollars), but recently it has been proactive on the market, after having acquired the video game production house Zenimax for 7.6 billion dollars and having entered into discussions to buy the Discord chat application (10 billion), according to Bloomberg. It was also listed among potential TikTok buyers in the United States, until the deal derailed.
Nuance's conversational intelligence solutions are already used by 77% of American hospitals and the company's healthcare cloud revenues increased by 37% in 2020 (ended September). The most frequent use concerns the integrated reporting with electronic health records, the transcription of post-visit vocal medical reports and the improvement of the patient experience. These applications will now enter Microsoft's healthcare cloud, doubling the total available market to nearly $ 500 billion. Nuance also deals with applications to enhance the user experience, virtual assistants, digital and biometric solutions.
Announced as of now, the deal is set to close within the year after shareholder approval by Nuance. In a European Parliament tender of 3 million euros, for the supply of technologies for speech recognition, translation and instant transcription, Microsoft was overtaken by two consortia led by Italian companies, Cedat85 (in a first international grouping), Translated and Pervoice. By September the three competitors will have to deliver a working prototype for ten languages to evaluate who will be able to continue providing the service.
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Topics
Big data Artificial intelligence Microsoft globalData.fldTopic = "Big data , Artificial Intelligence, Microsoft "
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