Microsoft moves to acquire AI firm Nuance Communications

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A source with first hand knowledge of the matter confirms that Microsoft Corp is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc at about $16 billion.

The price being discussed could value Nuance at about $56 a share, the source said, adding that an agreement could be announced today though a Bloomberg report says the discussions could still fall apart.

Nuance, whose voice recognition technology helped launch Apple Inc’s assistant Siri, makes software for sectors ranging from healthcare to the automotive industries.

The deal with Nuance would be Microsoft’s second-biggest deal, after its $26.2 billion acquisition of LinkedIn in 2016.

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