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Microsoft to buy Nuance for 16 billion dollars- report
Microsoft Corp. is in the final stages of negotiations to buy voice recognition company Nuance Communications for 16 billion dollars, the Financial Times reported on Sunday.
The agreement will value Nuance at approximately 56 dollars per share, a 23 percent premium on the Friday closing price, sources told the news organization. The deal could be announced as soon as next week.
Nuance, which is based in Massachusetts, provided the speech recognition engine for Siri, Apple Inc.'s virtual assistant. Siri is an application that combines speech recognition with advanced natural-language processing. Artificial intelligence, which required both advances in the underlying algorithms and leaps in processing power both on mobile devices and the servers that share the workload, allows the software to understand words and their intentions.
In September 2005, ScanSoft Inc. acquired and merged with Nuance Communications, and the resulting company adopted the Nuance name. For a decade prior to that, the two companies competed in the commercial large-scale speech application business.
 

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