Microsoft closes on $16 billion acquisition of Nuance, Health News, ET HealthWorld

Microsoft closes on $16 billion acquisition of NuanceNew York: Microsoft has closed on its roughly $16 billion acquisition of speech recognition firm Nuance,

The deal, which was introduced final yr, helps Microsoft get extra entrenched into hospitals and the well being care trade by way of Nuance’s extensively used medical dictation and transcription instruments.

Nuance Communications Inc. has been a pioneer in voice-based synthetic intelligence expertise and was instrumental in serving to to energy Apple’s digital assistant Siri. The Burlington, Massachusetts-based firm has since shifted its focus to well being care.

“This powerful combination will help providers offer more affordable, effective and accessible healthcare, and help organizations in every industry create more personalized and meaningful customer experiences,” Scott Guthrie, govt vice chairman of the Cloud + AI Group at Microsoft, mentioned in an announcement on Friday.

The transaction has been beneath scrutiny by British antitrust regulators, who opened up an investigation into the deal in December due to issues that it might lead to a “substantial lessening of competition” within the UK market.

Microsoft continued to buy this yr, in January saying that it will spend $70 billion to accumulate online game maker Activision Blizzard.

Mark Benjamin will proceed to function CEO of Nuance, Burlington, Massachusetts, and report back to Guthrie.

Shares of Microsoft, primarily based in Redmond, Washington, declined barely amid a broader market sell-off Friday.

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