Today Microsoft officially announced that it has acquired Nuance, a company specializing in speech recognition. Both companies have been working together since 2019 and Microsoft wants to further expand its industry-specific cloud offerings with the takeover.
The main focus of cloud-based AI is healthcare. "Nuance solutions are currently used by more than 55% of physicians and 75% of radiologists in the US and are used in 77% of US hospitals."
“Beyond healthcare, Nuance provides AI expertise and customer engagement solutions in interactive voice response (IVR), virtual assistants, and digital and biometric solutions for companies around the world and in all industries. This expertise is merged with the breadth and depth of the Microsoft cloud, including Azure, Teams and Dynamics 365, to deliver next-generation customer engagement and security solutions."
As Microsoft writes in the press release, the takeover (from the postage) is paid for in cash with a value of 19.7 billion dollars, minus the net debt that Nuance still has.
If you want to read through the whole article: news.microsoft.com or news.microsoft.com
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