MICROSOFT IN DISCUSSIONS TO BUY NUANCE COMMUNICATIONS

PRESS RELEASE: Microsoft Corp is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc at about $16 billion, according to a source familiar with the matter.

The price being discussed could value Nuance at about $56 a share, the source said, adding that an agreement could be announced as soon as Monday.

Bloomberg News, which first reported the deal between Nuance and Microsoft, said talks are ongoing and the discussions could still fall apart.

Burlington, Massachusetts-based Nuance whose voice recognition technology helped launch Apple Inc’s assistant Siri, makes software for sectors ranging from healthcare to the automotive industries.

The deal with Nuance would be Microsoft’s second-biggest deal, after its $26.2 billion acquisition of LinkedIn in 2016.

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