<p>Microsoft, on an accelerated growth push, is buying speech recognition company Nuance in a deal worth about $16 billion.</p>.<p>Microsoft will pay $56.00 per share cash. That's a 23 per cent premium to Nuance's Friday closing price. The companies value the transaction at $19.7 billion, including debt.</p>.<p>Shares of Nuance surged about 23 per cent in Monday premarket trading.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/technology/gamers-rejoice-microsoft-brings-bo-wireless-headsets-969796.html" target="_blank">Gamers rejoice! Microsoft brings B&O wireless headsets </a></strong></p>.<p>Microsoft's acquisition of Nuance comes after the companies formed a partnership in 2019.</p>.<p>The Redmond, Washington, company said that the deal will double its total addressable market in the health care provider industry, bringing its total addressable market in health care to nearly $500 billion.</p>.<p>The transaction is Microsoft's second largest deal following its $26 billion purchase of LinkedIn in 2016. Last September, it bought for video game maker ZeniMax for $7.5 billion.</p>.<p>Mark Benjamin will continue as Nuance CEO.</p>.<p>The transaction is expected to close this year. It still needs approval from Nuance shareholders.</p>
<p>Microsoft, on an accelerated growth push, is buying speech recognition company Nuance in a deal worth about $16 billion.</p>.<p>Microsoft will pay $56.00 per share cash. That's a 23 per cent premium to Nuance's Friday closing price. The companies value the transaction at $19.7 billion, including debt.</p>.<p>Shares of Nuance surged about 23 per cent in Monday premarket trading.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/technology/gamers-rejoice-microsoft-brings-bo-wireless-headsets-969796.html" target="_blank">Gamers rejoice! Microsoft brings B&O wireless headsets </a></strong></p>.<p>Microsoft's acquisition of Nuance comes after the companies formed a partnership in 2019.</p>.<p>The Redmond, Washington, company said that the deal will double its total addressable market in the health care provider industry, bringing its total addressable market in health care to nearly $500 billion.</p>.<p>The transaction is Microsoft's second largest deal following its $26 billion purchase of LinkedIn in 2016. Last September, it bought for video game maker ZeniMax for $7.5 billion.</p>.<p>Mark Benjamin will continue as Nuance CEO.</p>.<p>The transaction is expected to close this year. It still needs approval from Nuance shareholders.</p>