Microsoft completes acquisition of Nuance, ushering in new era of outcomes-based AI

Rhea-AI Summary

On March 4, 2022, Microsoft (Nasdaq: MSFT) announced the completion of its acquisition of Nuance Communications Inc. (Nasdaq: NUAN), a leader in conversational AI. This strategic acquisition aims to enhance Microsoft's cloud-based solutions across various industries, particularly in healthcare and financial services. By integrating Nuance's advanced AI capabilities, Microsoft will improve customer experiences, productivity, and financial performance. Mark Benjamin will continue as Nuance's CEO, reporting to Scott Guthrie, EVP of Microsoft's Cloud + AI Group.

Positive

• Enhanced AI capabilities to improve customer experiences.
• Increased scalability and innovation across industries.
• Strengthened market position in healthcare and financial services.

Negative

• None.

REDMOND, Wash., March 4, 2022 /PRNewswire/ -- Microsoft Corp (Nasdaq: MSFT) on Friday announced the completion of its acquisition of Nuance Communications Inc. (Nasdaq: NUAN), a leader in conversational AI and ambient intelligence across industries including healthcare, financial services, retail and telecommunications.

Driven by a shared vision to build outcomes-based AI, Microsoft and Nuance will enable organizations across industries to accelerate their business goals with our security-focused, cloud-based solutions infused with powerful, vertically optimized AI. Customers will benefit from enhanced consumer, patient, clinician and employee experiences, and ultimately improved productivity and financial performance.

"Completion of this significant and strategic acquisition brings together Nuance's best-in-class conversational AI and ambient intelligence with Microsoft's secure and trusted industry cloud offerings," said Scott Guthrie, executive vice president, Cloud + AI Group, Microsoft. "This powerful combination will help providers offer more affordable, effective and accessible healthcare, and help organizations in every industry create more personalized and meaningful customer experiences. I couldn't be more pleased to welcome the Nuance team to our Microsoft family."

As digital transformation accelerates, organizations in every sector across the globe can address challenges that will have a fundamental impact on their success — from reducing clinician burnout and enhancing early detection and treatment of disease in healthcare to creating personalized customer experiences and supporting employees' productivity and well-being in financial services, retail and telecommunications. Microsoft and Nuance cloud-based AI solutions can help meet business goals and address organizations' most pressing needs. In addition, Microsoft and Nuance can strengthen organizations' ability across industries to scale their impact by offering the services consumers, patients and employees rely on, when or where they need them.

"Combining the power of Nuance's deep vertical expertise and proven business outcomes across healthcare, financial services, retail, telecommunications and other industries with Microsoft's global cloud ecosystems will enable us to accelerate our innovation and deploy our solutions more quickly, more seamlessly and at greater scale to solve our customers' most pressing challenges," said Mark Benjamin, CEO of Nuance. "As Microsoft and Nuance come together as one organization, we are excited about the opportunities ahead for our technology, employees, customers and partners."

Mark Benjamin will remain CEO of Nuance and report to Microsoft Cloud + AI group Executive Vice President Scott Guthrie.

Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

 

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SOURCE Microsoft Corp.

FAQ

What is the significance of Microsoft's acquisition of Nuance Communications?

The acquisition enhances Microsoft's AI capabilities and strengthens its offerings in sectors like healthcare and financial services.

When was the acquisition of Nuance Communications by Microsoft completed?

The acquisition was completed on March 4, 2022.

What will be the role of Mark Benjamin after Microsoft's acquisition of Nuance?

Mark Benjamin will remain as CEO of Nuance and will report to Scott Guthrie, EVP of Microsoft's Cloud + AI Group.

How will the acquisition of Nuance affect Microsoft's product offerings?

The acquisition will enable Microsoft to offer more personalized and effective solutions, particularly in healthcare and customer service.

Which industries will benefit from Microsoft's acquisition of Nuance?

Industries including healthcare, financial services, retail, and telecommunications will benefit from enhanced AI solutions.