Microsoft has made yet another multi-billion dollar acquisition. Just a month after Microsoft’s $7.5 billion deal to buy ZeniMax closed, the technology giant has now purchased the AI company Nuance at a price of $56 per share, which works out to $19.7 billion. Microsoft clearly sees a lot of value in Nuance, as it paid a 23% premium on the price of Nuance’s shares. The acquisition was an all-cash deal that is expected to close this year.
Nuance CEO Mark Benjamin will remain CEO, and he will report to Microsoft cloud and AI boss Scott Guthrie going forward.
Microsoft has been working with Nuance since 2019, when it started using Nuance’s technology for healthcare. “By augmenting the Microsoft Cloud for Healthcare with Nuance’s solutions, as well as the benefit of Nuance’s expertise and relationships with EHR systems providers, Microsoft will be better able to empower healthcare providers through the power of ambient clinical intelligence and other Microsoft cloud services,” Microsoft said.