Microsoft buying speech recognition firm Nuance in $16B deal

Microsoft, on an accelerated growth push, is buying speech recognition company Nuance in a cash deal worth $16 billion. Microsoft will pay $56 per share. The companies value the transaction including debt at $19.7 billion. Microsoft’s acquisition comes after the companies formed a partnership in 2019. Nuance’s products are used by the majority of U.S. physicians, radiologists and hospitals. Microsoft CEO Satya Nadella called artificial intelligence technology’s most important priority and health care its most urgent application. The transaction is expected to close this year.