Microsoft buys AI speech tech company Nuance for $19.7 billion

Microsoft has made its second-biggest acquisition after LinkedIn. The tech giant has bought AI speech tech firm Nuance for $19.7 billion. The move will help Microsoft’s prowess in voice recognition and will give it a boost in the health care market. Nuance is known for its Dragon software which helps to transcribe speech using deep learning. In 2016, Microsoft had purchased LinkedIn for $26 billion.

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About the acquisition:

• The acquisition will combine solutions and expertise to deliver new cloud and AI capabilities across healthcare and other industries, and represent the latest step in Microsoft’s industry-specific cloud strategy.
• Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real-world application of enterprise AI.
• Nuance’s products include multiple clinical speech recognition software as a service (SaaS) offerings built on Microsoft Azure. The firm’s solutions work with core healthcare systems, and are currently used in 77% of U.S. hospitals.

Important takeaways for all competitive exams:

• Microsoft CEO: Satya Nadella;
• Microsoft Headquarters: Redmond, Washington, United States;
• Nuance CEO: Mark D. Benjamin;
• Nuance Headquarters:  Massachusetts, United States;
• Nuance Founded: 1992, United States.

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