Microsoft Corporation reached final negotiations to own artificial intelligence (AI) and speech technology firm known as Nuance Communications Incorporation at around sixteen billion dollars, reported by a source close to the matter.
The source further said that the amount being negotiated could value Nuance at around fifty-six dollar a share and a pact could be announced as early as Monday.
Bloomberg News was the first news agency that reported the agreement between Microsoft and Nuance and it reported that negotiations are ongoing and the talks could still fall apart.
Both Microsoft and Nuance had cooperated for health technology since 2019. The medical experts can capture voice form patient visits and develop the electronic medical record.
Microsoft aggressively focusing on AI
The firm has been strongly concentrating on both acquisitions and artificial intelligence. After marking itself (Microsoft) as a mobile company’s first cloud first firm, it is now gripping AI, image recognition, and speech to boost its cloud services. Besides this, great competition is already present for the tech firm from leading tech giants such as Google with its main focus on artificial intelligence through Google Health and Amazon.
Nuance’s (Burlington, Massachusetts-based company) effective voice recognition technology assisted Apple company to launch its assistant Siri. Furthermore, the company also develops software for various industries including automotive and healthcare.
Microsoft’s second biggest agreement
The contract with Nuance is going to be the second biggest agreement of Microsoft Corporation after its 26.2 billion dollars acquisition of the LinkedIn platform in 2016.
Both Nuance and Microsoft didn’t quickly respond to media agencies for comment.