Microsoft, on an accelerated growth push, is buying speech recognition company Nuance in a cash deal worth $16 billion. Including debt, the companies value the transaction at $19.7 billion. Microsoft’s acquisition comes after the companies formed a partnership in 2019. Nuance’s products are used by the majority of U.S. physicians, radiologists and hospitals. It has been a pioneer in voice-based artificial intelligence technology and was instrumental in helping to power Apple’s digital assistant Siri. Microsoft CEO Satya Nadella called artificial intelligence technology’s most important priority and health care its most urgent application. The transaction is expected to close this year.
