Microsoft has agreed to buy Nuance Communications for $19.7 billion. Microsoft intends to integrate Nuance’s technology into its healthcare-specific cloud strategy. The acquisition is Microsoft’s second-largest after the $24 billion purchase of LinkedIn. Microsoft has agreed to buy the AI and voice communications firm Nuance for $19.7 billion. The deal, expected to close at the end of the year, would value Nuance at $56 per share, implying a premium of 23% to the stock’s closing price on April 9. Nuance is Microsoft’s second largest acquisition after its $24 billion purchase of LinkedIn in 2016. Nuance’s speech recognition engine is the basis for Apple’s voice assistant Siri, and the company has developed Dragon Naturally Speaking voice technology products.