Microsoft acquires “Nuance” for artificial intelligence, for $ 19.7 billion

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Announced Microsoft, On Monday, it will acquire the “Nuance” company to develop artificial intelligence and cloud computing for $ 19.7 billion, to boost its healthcare services. Nuance is widely used in medical records, and is currently in use in more than three-quarters of American hospitals, the US tech giant said in a statement.

Microsoft clarified that the deal is in full cash and includes payment of debts owed by “Nuance”. Come Deal Following Microsoft’s purchase of LinkedIn for $ 27 billion in 2016 and represents “the latest step in Microsoft’s cloud strategy for.” Industries Specified “.

Nuance’s technology includes an AI conversation tool familiar with specialized medical terminology, frees doctors from taking notes and allows for better patient-doctor interaction in person or on telemedicine appointments that kicked off during the pandemic, executives said.

Like the tech giants, Microsoft has benefited greatly from the economic turmoil during COVID-19. The company’s revenue jumped 33 percent in the last quarter to $ 15.5 billion with a significant boost from cloud and personal computing, including its Xbox video games.

Nuance technology is currently used by more than 55 percent of physicians and 75 percent of radiologists in the United States. Microsoft said the deal would double its healthcare market to nearly $ 500 billion.

Microsoft Executive Director Satya Nadella said, “Artificial intelligence is the most important priority for technology and healthcare, and its application has become the most urgent.” He continued: “Together, through our partner EcoSystem, we will put advanced AI solutions in the hands of professionals everywhere to better drive decision-making and create more meaningful connections, as we accelerate the growth of Microsoft’s healthcare withdrawal and Nuance.”

Nuance shares rose 19.2 percent to $ 54.32 in pre-market trading, while Microsoft’s shares rose 0.2 percent to $ 256.24.

Headquartered in Burlington near Boston, Nuance was established in 1992 and specializes in AI solutions for conversation, particularly in the healthcare sector. The company, which employed more than 7,100 people as of September 30, reported sales of $ 1.48 billion last year.

(France Press, The New Arab)





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