By Shivani Kumaresan (Reuters) - U.S. stock index futures dipped on Monday after the S&P 500 and the Dow closed at record levels in the previous sessi.
Provided by Dow Jones By Michael Dabaie Nuance Communications Inc. shares were up 17% to $53.24 in morning trading. Microsoft Corp. before the market open said it would acquire cloud and AI software company Nuance Communications for $56 a share, implying a 23% premium to Nuance s $45.58 closing price Friday. Microsoft said the all-cash transaction is valued at $19.7 billion, including Nuance s net debt. The acquisition will double Microsoft s total addressable market in the healthcare provider space, bringing the company s TAM in healthcare to nearly $500 billion, Microsoft said. Microsoft s acquisition of Nuance builds upon the existing partnership between the companies that was announced in 2019. For Microsoft, this is the right acquisition at the right time with Microsoft doubling down on its healthcare initiatives over the coming years. The Nuance deal is a strategic no brainer in our opinion for MSFT and fits like a glove into its
Microsoft makes big bet on healthcare AI technology
DOCTOR’S ASSISTANT: Nuance’s technology listens in on conversations between doctors and patients to create health records and anticipate patients’ needs
Bloomberg
Microsoft Corp is making a massive bet on healthcare artificial intelligence (AI).
The software giant is set to buy Nuance Communications Inc, tapping the company tied to the Siri voice technology to overhaul solutions that free doctors from note-taking and better predict a patient’s needs.
Microsoft could announce the deal as soon as yesterday if talks are successful, people familiar with the matter said.
The price being discussed could value Nuance at about US$56 a share, a 23 percent premium to Friday’s close, one of the people said.
Microsoft Corp said on Monday it would buy artificial intelligence and speech technology firm Nuance Communications Inc for about $16 billion in cash, as it builds out its cloud strategy for healthcare.
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