Microsoft agreed today to acquire Nuance Communications, a leader in speech to text software, for $19.7 billion. Bloomberg broke the story over the weekend that the two companies were in talks.
In a post announcing the deal, the company said this was about increasing its presence in the healthcare vertical, a place where Nuance has done well in recent years. In fact, the company announced the Microsoft Cloud for Healthcare last year, and this deal is about accelerating its presence there. Nuance’s products in this area include Dragon Ambient eXperience, Dragon Medical One and PowerScribe One for radiology reporting.
“Today’s acquisition announcement represents the latest step in Microsoft’s industry-specific cloud strategy,” the company wrote. The acquisition also builds on several integrations and partnerships the two companies have made in the last couple of years.
Wikipedia: This will be Microsoft's second-biggest deal ever, after its purchase of Linkedin for $24 billion in 2016.
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