Microsoft has announced that it is acquiring AI firm Nuance Communications for $19.7 billion USD (about $24.7 billion CAD).
The tech giant says the acquisition will combine solutions to deliver new cloud and AI capabilities across healthcare and other industries.
“Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real-world application of enterprise AI,” said Microsoft CEO Satya Nadella in a statement.
“Together, with our partner ecosystem, we will put advanced AI solutions into the hands of professionals everywhere to drive better decision-making and create more meaningful connections, as we accelerate growth of Microsoft Cloud for Healthcare and Nuance.”
The AI firm is known for making software for several industries ranging from healthcare to automotive. It’s worth noting that Nuance helped launch Apple’s Siri through its voice recognition technology.
This acquisition marks the tech giant’s second-largest purchase. Microsoft’s largest acquisition was when it purchased LinkedIn in 2016 for $24 billion USD (about $30 billion CAD).
News about this acquisition comes as Microsoft is reportedly in talks to purchase gaming chat platform Discord for more than $10 billion USD (about $12.5 billion CAD). Discord is reportedly interested in a sale and is currently exploring its options.