NUAN - Microsoft acquiring Nuance Communications in deal valued at $19.7B

Microsoft (MSFT) enters into a definitive agreement to acquire Nuance Communications (NUAN) for $56 per share in cash, a 23% premium to Friday's closing price.The deal is valued at $19.7B, inclusive of net debt.Mark Benjamin will remain CEO of Nuance after the deal closes, which is expected to happen before the end of 2021."Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real-world application of enterprise AI," siys Satya Nadella, CEO, Microsoft. "AI is technology's most important priority, and healthcare is its most urgent application. Together, with our partner ecosystem, we will put advanced AI solutions into the hands of professionals everywhere to drive better decision-making and create more meaningful connections, as we accelerate growth of Microsoft Cloud in Healthcare and Nuance."The Nuance acquisition is Microsoft's largest deal since the $26B LinkedIn purchase in 2016.Nuance shares are up 23% pre-market.The pending acquisition was

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Microsoft acquiring Nuance Communications in deal valued at $19.7B