microsoft shares: Microsoft closes on $16 billion acquisition of Nuance

New York: Microsoft has closed its acquisition of speech recognition company Nuance for about $16 billion. The deal, which was announced last year, is for Microsoft Corp. Helps to further strengthen the U.S. in hospitals and the healthcare industry through Nuance’s widely used medical dictation and transcription tools.

Nuance Communications Inc. Voice-based artificial intelligence has been a pioneer in technology and was instrumental in helping to power Siri, Apple’s digital assistant. The Burlington, Massachusetts-based company has since shifted its focus to health care.

Scott Guthrie, executive vice president of the Cloud + AI Group at Microsoft, said in a statement, “This powerful combination will help providers deliver more affordable, effective and accessible healthcare, and help organizations in every industry create more personalized and meaningful customer experiences.” will help.” on Friday.

The transaction is being investigated by British antitrust regulators, who launched an investigation into the deal in December because of concerns it could result in “significantly reduced competition” in the UK market.

Microsoft continued to make purchases this year, announcing in January that it would spend $70 billion to acquire video game maker Activision Blizzard.

Mark Benjamin will continue to serve as CEO of Nuance, Burlington, Massachusetts and will report to Guthrie.

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Shares of Microsoft based in Redmond, Washington, fell slightly on Friday amid a broader market sell-off.

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Originally published at Pen 18