On April 12, Microsoft Corp announced the acquisition of Nuance for USD 19.7 billion, which is the largest acquisition after its LinkedIn deal for USD 26 billion in 2016. Founded in 1992, Nuance has over 6,500 employees and net income for the fourth quarter of 2020 was USD 7 million. The acquisition is expected by end of this calendar year.
Based in Burlington, Massachusetts, Nuance is a leading provider of conversational AI and cloud-based ambient clinical intelligence for healthcare provider. Nuance solutions are currently used by more than 55% of physicians and 75% of radiologists in the U.S., and used in 77% of U.S. hospitals. Nuance’s Healthcare Cloud revenue experienced 37% year-over-year growth in Nuance’s fiscal year 2020.
“Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real-world application of enterprise AI,” said 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 for Healthcare and Nuance.”