Benzinga | Apr 11, 2021 02:34PM EDT

Microsoft Reportedly In Talks To Buy Speech Tech Company Nuance

A deal for Microsoft Corporation (NASDAQ:MSFT) to buy the company that helped develop the Siri speech technology could be announced this coming week.

* Bloomberg reported today that Microsoft is in talks to buy Nuance Communications Inc. (NASDAQ:NUAN), an artificial intelligence and speech technology company.

* The deal could value Nuance at about $56 a share, Bloomberg said, citing unnamed sources and noting that the price could change.

* That implies a valuation of about $16 billion.

* Nuance closed Friday's trading at $45.58, up 2.15% for the week.

* Nuance is known for powering the Siri speech recognition technology used by Apple Inc. (NASDAQ:AAPL)

Source Image: Wikimedia Commons by BenFranske.