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  • Friday, November 22, 2024

Microsoft Closes $19.7B Cash Buy of Nuance Communications

Microsoft (Nasdaq: MSFT) has closed its approximately $19.7 billion cash acquisition of artificial intelligence company Nuance Communications as both companies aim to offer cloud-based AI platforms.

Microsoft first announced the $56-per-share deal in April last year and the multinational technology company said Friday that Mark Benjamin will continue to lead Nuance as CEO.

Benjamin will report to Scott Guthrie, executive vice president of Microsoft’s cloud + AI group.

The combined organization intends to help customers manage business operations across multiple sectors such as the health care, financial services, retail and telecommunications industries.

Artificial intelligence will be the focal point of discussions at a March 10 in-person event to be hosted by ExecutiveBiz, sister site of ExecutiveGov. Click here to learn more about the forum, themed “Applying AI to Data for Cyber Hygiene and National Security.”

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