Microsoft Corporation is in advanced talks to buy artificial intelligence and speech technology company, Nuance Communications Inc., at about $16 billion, according to a source familiar with the matter.
According to Reuters, the price being discussed could value Nuance at about $56 a share, the source said.
Bloomberg News, which first reported the deal between Nuance and Microsoft, said talks are ongoing and the discussions could still fall apart.
Burlington, Massachusetts-based Nuance whose voice recognition technology helped launch Apple Inc’s assistant Siri, makes software for sectors ranging from healthcare to the automotive industries.
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The deal with Nuance would be Microsoft’s second-biggest deal, after its $26.2 billion acquisition of LinkedIn in 2016. Microsoft and Nuance did not immediately respond to Reuters’ request for comment.
Nuance is an American multinational computer software technology corporation, headquartered in Burlington, Massachusetts, on the outskirts of Boston, that provides speech recognition, and artificial intelligence.
Nuance merged with its competitor in the commercial large-scale speech application business, ScanSoft, in October 2005. ScanSoft was a Xerox spin-off that was bought in 1999 by Visioneer, a hardware and software scanner company, which adopted ScanSoft as the new merged company name. The original ScanSoft had its roots in Kurzweil Computer Products.
In April 2021, Microsoft announced it would buy Nuance Communications for $19.7 billion, or $56 a share.
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