Microsoft acquires Nuance just now, a cloud and AI software leader for healthcare and enterprise AI experience. Microsoft has paid $56 per share, with a total of $19.7 Billion. The total addressable market of Microsoft stands at $500 Billion after this. The CEO of Nuance will be the same, and hopefully, the work methods will also be in their flow. The acquisition marks a newer step for the ‘Microsoft Cloud for Healthcare’ announced last year.
Microsoft is the boss of the Operating System with their leading product in this category – The Windows OS, which is the most dominant operating system software in the whole world. People worldwide trust Microsoft so much that they let Microsoft with everything their PC has to offer. Microsoft has never been seen breaking that trust. Microsoft acquires Nuance and sets a great example of increasing that trust level between the customers and the company rapidly.
Nuance is one of the best game changers for Microsoft right now, with people becoming more and more environment conscious along with health hazards and concerns. Nobody wants to risk their life by investing or buying a product that is not bio-certified or eco-friendly. They need some assurance nowadays about the environmental friendliness of a certain product, no matter if the product is of Microsoft.
Bill Gates does not forget this important thing, so the best step to take is what he took with Microsoft – Be a part of a healthcare leader in the sector of Information Technology and Cloud Healthcare. As a result, Microsoft acquires Nuance.
Microsoft acquires Nuance – Main Story
Nuance is a text-to-speech industry leader whose products include Dragon Ambient eXperience, Dragon Medical One, and PowerScribe One for radiology reporting. Their solutions are expected to work seamlessly with core healthcare systems. Nuance currently occupies almost 77% of US hospitals with their products. It is also the full-service partner trusted by 85% of the Fortune 100 Companies worldwide.
Nuance creates intuitive solutions that amplify people’s ability to help others.
The Relation between Microsoft and Nuance
Microsoft and Nuance partnered together for the first time in 2019 to let AI focus on administrative tasks and doctors on patients. Microsoft hopes to do the same with this acquisition and provide better clinical intelligence and other Microsoft Cloud services. The primary focus remains on data privacy, security, and compliance, as Microsoft notes. At last, Microsoft acquires Nuance.
Besides helping Microsoft Cloud for Healthcare, Nuance’s other services include providing better AI expertise and customer engagement solutions across IVR, virtual assistants, digital solutions, etc.
“Over the previous 3 years, Nuance has reduced its portfolio to focus on the healthcare and enterprise AI segments, where there has been accelerated demand for advanced conversational AI and ambient solutions,”
said Mark Benjamin, CEO, Nuance.
“To get this opportunity, we require the correct platform to bring focus and global level to our customers and partners to deliver more personal, affordable, and effective connections to people and affection. The path forward is definitely with Microsoft — which brings talented cloud-based services at the level and shares our passion for the ways technology can make a difference. At the same time, this combination offers a crucial opportunity to supply understanding and certain value to our shareholders who have driven and pushed us on this journey.”
With this, the transaction is expected to close by this calendar year.
Microsoft acquires Nuance – Now What?
Upon closing, Microsoft will take care of Nuance’s expenses under their Intelligent Cloud segment banner. Nuance will be reporting to Scott Guthrie, executive vice president of Cloud & AI at Microsoft.
Microsoft acquires Nuance, and at present, Nuance will be shut down, and all of its data and lab successes will be handled and improved by Microsoft to a much higher standard. Microsoft has never failed to improve a broken product, and they always make the worse product better than before.