Microsoft Corp. in advanced talks to buy artificial intelligence and speech recognition technology company called Nuance Communications Inc., at about $16 billion, according to Bloomberg News.
An agreement between the two Tech giant could be announced by the coming week, Bloomberg said citing people familiar with the matter.
The price being discussed could value Nuance Communications Inc. at about $56 a share, one of the people told Bloomberg, though the terms could still change with possible offers on board.
That would value the equity of Nuance Communications, which laid the foundations for the technology used in Apple Inc.’s Siri voice software, at about $16 billion, according to data published by Bloomberg.
Talks between Burlington, Massachusetts-based Nuance Communications and Microsoft are ongoing and the discussions could still fall apart, the report added.
A deal for Nuance Communications would rank as Microsoft’s second-largest acquisition, behind only the $24 billion LinkedIn Corp. transaction in 2016, according to data compiled by Bloomberg.
