Microsoft has closed the deal of Nuance acquisition for a whopping $16 billion

Microsoft is all set to enter the healthcare and hospital industry through Nuance’s widely used transcription and medical dictation tools

Recently tech giant Microsoft has made a massive announcement regarding the acquisition of Nuance, a popular name in the speech recognition segment. The deal was announced last year and was finalized recently. According to particulars, Microsoft is all set to enter the healthcare and hospital industry through Nuance’s widely used transcription and medical dictation tools. As being one of the pioneers in voice-based AI technologies, Nuance communications Inc. has played a major role in powering Apple’s blockbuster digital assistant Siri.

Ever since that, Nuance had shifted its focus to healthcare. Executive VP of Microsoft’s Cloud and AI Group, Scott Guthrie, has stated that the latest combination will assist the providers in giving more effective, accessible, and affordable healthcare while helping organizations in various sectors create a more meaningful and personalized customer experience. Both the companies had to put their deal on hold in December because of scrutiny from antitrust regulators in Britain. The regulators started an investigation to identify where the deal would weaken the competitiveness in the UK market. However, Microsoft continued its shopping spree and went on to purchase one of the biggest names in the gaming market Activision Blizzard for a whopping $70 billion. Even after the acquisition, Mark Benjamin is decided to continue as the CEO of Nuance.