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 story : : Microsoft confirms deal to purchase Nuance for .7 billion #FinanceUSA #StockMarketNEWS Microsoft Corp. MSFT confirmed Monday morning that it has agreed to purchase Nuance Communications NUAN for

@stockMarketNEWS Tue 13 Apr, 2021

Posted in: #FinanceUSA #StockMarketNEWS

: Microsoft confirms deal to purchase Nuance for .7 billion #FinanceUSA #StockMarketNEWS
Microsoft Corp. MSFT confirmed Monday morning that it has agreed to purchase Nuance Communications NUAN for a share, which represents a 23% premium to Nuance’s Friday close. The all-case transaction is valued at .7 billion, including Nuance’s net debt. Nuance shares are up about 17% in Monday morning trading, while Microsoft shares are off 0.4%. The companies expect the deal to close this calendar year. Nuance provides conversational artificial intelligence (AI) technology and other intelligence products for the healthcare industry. Outside of healthcare, the company also uses AI for virtual assistants and biometric offerings. “This expertise will come together with the breadth and depth of Microsoft’s cloud, including Azure, Teams, and Dynamics 365, to deliver next-generation customer engagement and security solutions,? the companies said in their press release. Multiple media outlets reported on Microsoft’s plans to acquire Nuance over the weekend. Nuance shares were off 4.9% over the past three months prior to the announcement, while the S&P 500 SPX had gained 8.6%.


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