"EXCLUSIVE Microsoft's $16 billion Nuance bid set for EU antitrust approval -sources". "UK's antitrust watchdog is taking a look at Microsoft-Nuance". "Microsoft in talks to buy Nuance Communications for around $16 billion: reports". "Microsoft digs deep for chatty AI specialist Nuance, bids $19.7bn to bolster healthcare chops". "Microsoft makes its second biggest acquisition, buys AI speech tech company Nuance for $19.7 billion". "Layoffs hit Nuance after Microsoft acquisition". "Nuance confirms its voice technology is behind Apple's Siri". ^ "Technology Briefing | Deals: Scansoft To Acquire Speechworks For $132 million".
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Shortly after the deal, the Competition and Markets Authority, a UK regulatory body, stated it was looking into the deal on the basis of antitrust concerns. This was Microsoft's second-biggest acquisition up to that point, after its purchase of LinkedIn for $24 billion (~$26.9 billion in 2021) in 2016. Nuance's CEO, Mark Benjamin, stayed with the company. On April 12, 2021, Microsoft announced that it will buy Nuance Communications for $19.7 billion, or $56 a share, a 22% increase over the previous closing price.
In 2019, Nuance spun off its automotive division as the company Cerence, allowing it to focus on health care applications. In 2013, Nuance confirmed that its natural language processing algorithms supported Apple's Siri voice assistant. Scansoft acquired speech recognition company SpeechWorks in 2003. Lernout & Hauspie had acquired speech recognition company Dragon Systems in June 2001, shortly before becoming bankrupt in October. Beginning with the December 2001 acquisition of Lernout & Hauspie assets, the company moved into the speech recognition business and began to compete with Nuance. Prior to 2001, ScanSoft focused primarily on desktop imaging software such as TextBridge, PaperPort and OmniPage. Two months later, in March, Visioneer acquired ScanSoft from Xerox to form a new public company with ScanSoft as the new company-wide name. Visioneer eventually sold its hardware division to Primax Electronics, Ltd. was founded to develop scanner hardware and software products, such as a sheetfed scanner called PaperMax and the document management software PaperPort. In March 1992, a new company called Visioneer, Inc. The company became known as Xerox Imaging Systems (XIS), and later ScanSoft. In 1980, Kurzweil sold his company to Xerox. to develop the first omni-font optical character-recognition system – a computer program capable of recognizing text written in any normal font. In 1974, Raymond Kurzweil founded Kurzweil Computer Products, Inc. During the prior decade, the two companies competed in the commercial large-scale speech application business. The resulting company adopted the Nuance name. acquired and merged with Nuance Communications, a natural language spinoff from SRI International. (SSFT), and the combined company became known as ScanSoft. In 1999, Visioneer acquired ScanSoft, Inc. The company that would become Nuance was incorporated in 1992 as Visioneer. The acquisition was completed in March 2022. The deal is an all-cash transaction of $19.7 billion, including company debt, or $56 per share. In April 2021, Microsoft announced it would buy Nuance Communications. The original ScanSoft had its roots in Kurzweil Computer Products. ScanSoft was a Xerox spin-off that was bought in 1999 by Visioneer, a hardware and software scanner company, which adopted ScanSoft as the new merged company name. Nuance merged with its competitor in the commercial large-scale speech application business, ScanSoft, in October 2005. owned by Microsoft is an American multinational computer software technology corporation, headquartered in Burlington, Massachusetts, that markets speech recognition and artificial intelligence software.
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