Microsoft has accelerated its industry cloud strategy in a $16 billion deal to buy leading cloud communications platform, Nuance. In an all-cash transaction, the Redmond giant will acquire all of the outstanding stock for 56 dollars a share.
Microsoft has accelerated its efforts to provide industry-specific cloud offerings to support customers and partners as they respond to disruption and new opportunities. These efforts include the Microsoft Cloud for Healthcare, introduced in 2020, which aims to address the comprehensive needs of the rapidly transforming and growing healthcare industry. Today’s acquisition announcement represents the latest step in Microsoft’s industry-specific cloud strategy.Microsoft
Growth by acquisition
The deal marks the latest example of Microsoft seeking growth through acquisition, with Microsoft having made an attempt to buy TikTok in the US last year.
The Nuance acquisition will, however, be Microsoft’s largest deal to date.
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Microsoft announced the deal in a press statement on April 12, referring specifically to its intention of accelerating its efforts in the cloud space.
Nuance Communications is a leading provider of cloud-based and AI solutions.
The transformative technology aims to change the way people work, connect, and interact with each other.
They aim to reimagine healthcare, with their initiatives including AI-powered solutions for physicians, radiologists, and hospitals.
Microsoft said in a statement that existing CEO Mark Benjamin will remain with the company and report to Scott Guthrie – head of Microsoft’s Cloud Division.