Back in April 2021, Microsoft announced that it is acquiring Nuance Communications in an all-cash transaction worth $19.7 billion. For those unaware, Nuance is an AI and cloud company that primarily builds healthcare products. Although Microsoft had initially stated that it expects the deal to complete at the end of calendar year 2021, the deadline seems to have slipped a bit as the transaction has been announced as "complete" as of today.
Microsoft has emphasized that the driving force behind this acquisition is that both firms share a vision of building AI- and cloud-powered assistive technologies for the betterment of mankind.
This vision encompasses multiple domains. In terms of healthcare, the two will work together to improve patient experiences, automate clinical documentation, and develop efficient telehealth applications. On the financial side, contact centers solutions are being powered and secured through Microsoft Cloud, enabling fraud detection via various forms of biometric authentication.
In retail, Nuance and Microsoft will collaborate to improve supply chain visibility and the overall shopping experience. Finally, in the space of telco, the aim is to offer AI solutions that will aid in reducing costs and improving network latency and efficiency.