Microsoft Corp. has completed its acquisition of Nuance Communications Inc. (Nasdaq: NUAN),
a staggering $19.7 billion mega-deal that was announced recently.Microsoft press notifies
The announcement of the closing, which Microsoft Corp. (Nasdaq: MSFT) made, comes days after the tech giant received clearance over the deal from U.K. antitrust regulators, the last major step in the merger process. The deal received U.S. regulatory approval last year.
Yunsun Wee, a spokesperson from Microsoft, that there will be no change to the Nuance brand as of close, and Microsoft doesn’t anticipate any near-term changes.
*Tweet on Microsoft acquisition of Nuance!
Microsoft has completed its acquisition of AI speech tech company Nuance for $19.7 billion. It's Microsoft's second-biggest acquisition until Activision Blizzard closes, and will see the company take on Nuance's Dragon software https://t.co/oyGZfit39k pic.twitter.com/TUw8oHMold
— Tom Warren (@tomwarren) March 4, 2022
“Our plans are to eventually integrate our two teams in order to help our businesses grow and achieve even more for our customers and partners,” Wee wrote.
In late 2020, Nuance had about 7,100 full-time employees, with 45% based in the U.S., according to a federal filing.
Voice-tech company Nuance, one of the largest AI Voice software-development, is known for helping Apple Inc. build its Siri virtual assistant.
- Revenue at Nuance was approximately $1.5 billion in fiscal 2020, with 61.9% coming from its healthcare segment.
Incorporated in 1992 as Visioneer, it changed its name to ScanSoft in 1999 and became Nuance Communications in 2005.
*Nuance represents the latest step in Microsoft’s industry-specific cloud strategy and the second-largest deal made by Microsoft after its purchase of LinkedIn for $26.2 billion in 2016.