Microsoft has addressed its second-biggest purchase after LinkedIn. The tech giant has acquired AI speech tech firm Nuance for $19.7 billion. The move will support Microsoft’s bravery in voice identification and will assist it in the health care business, where Nuance has a powerful presence too. As part of this agreement, Microsoft has to pay $56 per share for Nuance, a 23% premium over the company’s closing price last Friday. The deal incorporates Nuance’s net debt.

In 2016, Microsoft had bought LinkedIn for $26 billion. That continues to be its greatest acquisition till now, whereas with Nuance purchase slating in at the second place. The development begins at a time when conversation tech is developing because of AI and will have more possibilities for use.

Nuance is appreciated for its Dragon software which serves to copy speech using extensive knowledge. It is also considered to enhance efficiency over time by adapting the user’s opinion. The company has commissioned this technology for many co-operations and applications, including Apple’s Siri.

Microsoft can use Nuance’s technology with its current software like Companies or also attempt it separately as part of its Azure cloud business.

“By expanding the Microsoft Cloud for Healthcare with Nuance’s solutions, as well as the advantage of Nuance’s expertise and associations with EHR methods providers, Microsoft will be quite able to enable healthcare providers through the power of ambient clinical knowledge and other Microsoft cloud services,” announced Microsoft in a blog post.

Both organizations have served together in the past. In 2019, they proclaimed a strategic partnership to use Nuance’s software to digitize health experiences for Microsoft’s customers.

“Nuance implements the AI layer at the healthcare point of performance and is a pioneer in the real-world application of business AI,” asserted Microsoft CEO Satya Nadella in a declaration. “AI is technology’s common as well as major priority, and healthcare is its most critical application. Together, with our associate ecosystem, we will put forward AI solutions into the guidance of specialists throughout to drive more reliable decision-making and build more significant contacts, as we stimulate the growth of Microsoft Cloud in Healthcare and Nuance.”

Microsoft has been analyzing other purchases as well. Last year, it was very imminent to acquire social media app TikTok and has freshly completed a $7.5 billion purchase of games firm called ZeniMax.

READ MORE: Microsoft Mocks Apple for the Second Time!