Post a Free Blog

Submit A Press Release

Friday, March 29, 2024
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
-- Advertisement --spot_img
HomeBusinessAI Speech Tech firm Nuance to be sold to Microsoft for $19.7...

AI Speech Tech firm Nuance to be sold to Microsoft for $19.7 billion

 

Microsoft is buying Nuance for $1.9 billion. This AI based voice recognition firm will be a huge asset for the tech giant as it will improve its position in the health care space.

 

Microsoft is planning to buy the Burlington, Massachusetts based firm’s shares at a premium of $56 per share which is 23% over the share price of Nuance at Friday closing. It will also absorb Nuance’s net debt.

 

Bloomberg was the first to report the acquisition of Nuance by Microsoft over the weekend. Microsoft has been acquiring useful assets recently. Last month, it bought games company ZenMax for $7.5 billion. It is also said to be in talks to purchase Discord, a communications app.

 

Nuance’s voice processing software “Dragon” uses deep learning to transcribe speech. It adapts to a user’s voice and keeps improving in accuracy making it a much sought after software. It has been licensed for use to several users including Apple’s digital assistant Siri.

 

Deep learning using artificial intelligence is rapidly improving speech recognition and transcription ability and the number of applications where it is used has also been increasing. By leveraging this purchase Microsoft has improved its position as it can integrate Nuance’s technology into its transcription services.

 

The Redmond based Washington firm has collaborated with the Burlington based firm in 2019. They had formed a “strategic partnership” and Microsoft’s clients used Nuance’s software to digitize their health records.

 

The Dragon Medical One software developed by Nuance is said to be used by 77 percent of the hospitals in the U.S… More than half a million physicians reportedly use this software throughout the world.

In a statement, Microsoft CEO Satya Nadella said that they would release advanced AI solutions for professionals everywhere, as they “accelerate the growth of Microsoft Cloud in Healthcare and Nuance.

Subscribe to get Latest News Updates

Latest News Articles

You may like more
more

Semtech Shares Jump 3 percent Following Q4 Results

Semtech (NASDAQ:SMTC) experienced a more than 3% increase in...

Target Stock Added to Fresh Money List at Deutsche Bank

Deutsche Bank analysts placed Target (NYSE:TGT) on the Fresh...

AMC Shares Plunge 14 percent on a New Equity Distribution Deal

AMC Entertainment Holdings (NYSE:AMC) saw its shares drop over...

Palantir Technologies Stock Drops 6 percent on Monness, Crespi, Hardt Downgrade

Palantir Technologies (NYSE:PLTR) stock plunged more than 6% on...