Microsoft to Buy Nuance Communications for $19.7 Billion
April 12 2021 - 09:15AM
Dow Jones News
By Aaron Tilley
Microsoft Corp. has agreed to acquire speech-recognition firm
Nuance Communications Inc. for $19.7 billion, adding to a series of
big deals the company has struck to offer an expanded range of
software tools to its customers.
The two companies on Monday said Microsoft agreed to pay $56 per
Nuance share in the all-cash deal, a 23% premium over Friday's
closing price. The deal value includes Nuance debt, the companies
said.
The acquisition is Microsoft's second largest under Chief
Executive Satya Nadella after the company spent about $26 billion
for professional network LinkedIn Corp. in 2016.
Nuance, based in Burlington, Mass., was a pioneer in speech
recognition and artificial intelligence technology. Its software
formed the basis of Apple Inc.'s Siri voice assistant before the
Cupertino, Calif-based company switched to an in-house version.
Nuance has explored a possible sale as far back as 2014, when
Samsung Electronics Co. and private-equity firms were seen as the
most likely buyers.
Write to Aaron Tilley at aaron.tilley@wsj.com
(END) Dow Jones Newswires
April 12, 2021 09:00 ET (13:00 GMT)
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