Microsoft Is Reportedly in Talks to Scoop Up AI Firm Nuance Communications for $16 Billion

Home Technology Microsoft Is Reportedly in Talks to Scoop Up AI Firm Nuance Communications for $16 Billion
Microsoft Is Reportedly in Talks to Scoop Up AI Firm Nuance Communications for $16 Billion
Illustration for article titled Microsoft Is Reportedly in Talks to Scoop Up AI Firm Nuance Communications for $16 Billion
Photo: Jeenah Moon (Getty Images)

Microsoft is in advanced talks to acquire Nuance Communications, an artificial intelligence firm whose speech recognition tech helped develop Apple’s Siri virtual assistant, for as much as $16 billion, a source familiar with the matter told Reuters.

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The deal price being negotiated could value Nuance at around $56 per share, the source said, a roughly 23% premium compared to the share’s closing price on Friday. They added that an official announcement may come as soon as Monday.

A source that spoke with Bloomberg, which first reported news of a potential deal on Sunday, said that negotiations remain ongoing and cautioned that they could still fall apart.

While not exactly a household name, Nuance’s AI and speech recognition software is used in a range of industries from healthcare to automotive and helped lay the groundwork for the tech powering Apple’s voice assistant.