Conscious Investing Today
  • Top News
  • Business Insider
  • Economic Indicators
  • Investing Ideas
  • Politics News
  • Stock Analysis
  • Editor’s Pick
No Result
View All Result
  • Top News
  • Business Insider
  • Economic Indicators
  • Investing Ideas
  • Politics News
  • Stock Analysis
  • Editor’s Pick
No Result
View All Result
Conscious Investing Today
No Result
View All Result
Home Editor's Pick

Microsoft makes $20bn bet on speech AI firm Nuance

by
April 13, 2021
in Editor's Pick, Stock Analysis
0
Microsoft makes $20bn bet on speech AI firm Nuance
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

Nuance

Microsoft Corp plans to buy a tech firm known for helping to develop Apple’s Siri speech recognition software in a deal valued at $19.7bn (£13.3bn).

The purchase of Nuance Communications is the second largest in Microsoft’s history, after its acquisition of networking site LinkedIn in 2016.

Microsoft said it would bolster its software and artificial intelligence expertise for healthcare companies.

So-called “telehealth” and remote doctor visits have boomed in lockdown.

This growth is forecast to continue after the pandemic.

“Nuance provides the AI layer at the healthcare point of delivery,” Microsoft chief executive Satya Nadella said in a statement. “AI is technology’s most important priority, and healthcare is its most urgent application.”

The deal, which includes Nuance debt, is expected to be completed this year.

What is Nuance?

Nuance, based in Massachusetts, was founded in 1992. It employs more than 1,600 people globally and is active in 28 countries.

ADVERTISEMENT

Known as a speech recognition pioneer, it has more recently focused on providing software to the healthcare industry, such as software that helps to automate radiology reports and makes it easier for doctors to create patient notes by dictation.

Why are they joining forces?

Nearly 80% of US hospitals are already Nuance customers, Mr Nadella said. Purchasing the firm will dramatically expand Microsoft’s potential market in the health care industry.

Nuance executives said joining forces with Microsoft would help deepen its cloud-based offerings and allow it to tap into Microsoft’s existing global customer base.

The acquisition builds on a partnership the two companies formed in 2019 to automate clinical administrative work such as documentation.

Wedbush Securities analyst Dan Ives said the deal was “a strategic no brainer in our opinion for [Microsoft] and fits like a glove into its healthcare endeavours at a time in which hospitals and doctors are embracing next generation AI capabilities from thought leaders such as Nuance”.

“Clearly, [Microsoft] is on the “offensive” around M&A with the company in a clear position of strength to capitalize on its entrenched position in the cloud going forward,” he added, calling Nuance “another feather in its cap”.

What are the financial details?

Microsoft is to pay $56 per share to bring the firm under its own roof. That price is about 23% higher than where Nuance shares were trading on Friday.

Shares in Microsoft were flat following the announcement, while Nuance gained more than 16%. The boards of both companies have approved the transaction.

Read more:
Microsoft makes $20bn bet on speech AI firm Nuance

Related Posts

5 Tips for Online Casino Promotions
Editor's Pick

5 Tips for Online Casino Promotions

June 29, 2022
What Is the Difference Between a Fire Door and a Normal Door?
Editor's Pick

What Is the Difference Between a Fire Door and a Normal Door?

June 29, 2022
How to save money when financing a car
Editor's Pick

How to save money when financing a car

June 29, 2022
Next Post
UK and EU edge closer to deal on Brexit checks in Northern Ireland

UK and EU edge closer to deal on Brexit checks in Northern Ireland

Shoppers surge back to high streets as Covid lockdown eases in England

Shoppers surge back to high streets as Covid lockdown eases in England

How Japan plans to release contaminated Fukushima water into the ocean

How Japan plans to release contaminated Fukushima water into the ocean

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Categories

  • Economic Indicators
  • Editor's Pick
  • Investing Ideas
  • Politics News
  • Stock Analysis

Popular News

  • A Minute With: Family Reunion cast on relatable story lines

    A Minute With: Family Reunion cast on relatable story lines

    0 shares
    Share 0 Tweet 0
  • Twitter launches ‘Milk Tea Alliance’ emoji as movement grows

    0 shares
    Share 0 Tweet 0
  • Gas and car bills to soar under green revolution

    0 shares
    Share 0 Tweet 0
  • Level up your gaming experience with vivo Y20s [G]

    0 shares
    Share 0 Tweet 0
  • Rehab, expansion of General Santos airport seen completed by Q2

    0 shares
    Share 0 Tweet 0
No Result
View All Result

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Highlights

5 Tips for Online Casino Promotions

What Is the Difference Between a Fire Door and a Normal Door?

How to save money when financing a car

4 tips for dining on your travels

Turkey lifts veto on Finland, Sweden joining NATO, clearing path for expansion

Ghislaine Maxwell sentenced to 20 years for ‘horrific’ sex trafficking

Trending

PSEi ends lower on profit taking, Wall Street’s drop
Politics News

PSEi ends lower on profit taking, Wall Street’s drop

by
June 29, 2022
0

Philippine shares ended lower on Wednesday due to profit taking and losses on Wall Street amid the...

PHL, US firms ink deal for weapons assembly in Bataan

PHL, US firms ink deal for weapons assembly in Bataan

June 29, 2022
VP Robredo takes a bow with highest audit rating

VP Robredo takes a bow with highest audit rating

June 29, 2022
5 Tips for Online Casino Promotions

5 Tips for Online Casino Promotions

June 29, 2022
What Is the Difference Between a Fire Door and a Normal Door?

What Is the Difference Between a Fire Door and a Normal Door?

June 29, 2022

Disclaimer: ConsciousInvestingToday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2021 ConsciousInvestingToday. All Rights Reserved.

No Result
View All Result
  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.