Microsoft Speech recognition company has closed about $ 16 billion acquisition of Nuance. The deal, announced last year, will help Microsoft gain more access to the hospital and healthcare industries NuanceIts widely used medical dictation and transcription tools. The acquisition is the second largest after Microsoft’s 26 26 billion purchase of carrier networking services. LinkedIn In 2016.
Nuance’s artificial intelligence technology has helped ApplesAfter being released on the iPhone more than a decade ago, its Siri Digital Voice Assistant. The Burlington, Massachusetts-based company has since focused on other useful uses of the Dragon line of physicians and voice recognition tools.
Microsoft announced it was buying the company in April 2021 but faced a backlash in December when British antitrust regulators said they were investigating whether there could be a “significant reduction in competition” in the UK market. The British agency announced on Wednesday (March 2) that it had cleared the deal.
The consolidation was individually cleared by regulators later in December European UnionWhich leaves Britain in 2020. Top EU antitrust authorities have said that Microsoft and Nuance “offer very different products” and will continue to face strong competition in their respective markets.
Microsoft continued shopping this year, announcing in January that it would spend about $ 70 billion (approximately Rs 5,11,000 crore) to acquire video game maker Activision Blizzard.
Mark Benjamin will continue to serve as CEO of Nuance and will report to Scott Guthrie, head of Microsoft’s cloud computing and AI division.
Shares of Microsoft, located in Redmond, Washington, fell slightly in broader market sales on Friday.