Microsoft has acquired Nuance for 18 billion euros, its third-largest acquisition to date.
Nuance made a mark with AI and speech recognition for the healthcare industry. In early 2021, Microsoft expressed interest in the organization.
It’s been a suspenseful ride. Major acquisitions have international implications. Microsoft’s acquisition of Nuance was scrutinized by several market authorities. Most greenlit the deal, but the European Commission proved to be uncertain.
Both Nuance and Microsoft service the healthcare, retail, financial services and telecom industries. The merger of similar organizations creates the risk of unfair market advantages.
In early December 2021, an antitrust investigation came to light. The European Commission had concerns, but found no reason to panic. Microsoft was cleared. Today, the organization announced that the acquisition has been completed.
Nuance went for 18 billion euros ($19.7 billion), the third-largest acquisition in Microsoft’s history.
Why is Microsoft choosing Nuance?
Microsoft will leverage Nuance to gain ground in the healthcare industry. Nuance’s customer portfolio is rich in healthcare providers. They’re contributing to Microsoft’s market share as of today.
Nuance continues to play a role in developing AI and speech recognition technology. Nuance CEO Mark Benjamin retains his leadership, but will be reporting directly to Scott Huthrie, Executive Vice President of Cloud + AI at Microsoft.
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