Nuance Communications

Business • Markets
Microsoft buys speech recognition firm Nuance in a $16 billion deal
Satya Nadella
Satya Nadella Credit: Microsoft

Microsoft announced on Monday it would buy Nuance for $56 per share, about a 23% premium over Nuance’s closing price Friday.

Nuance has a strong reputation for its voice recognition technology, and it has been considered an acquisition target for companies like Apple, Microsoft and more for several years.

In an interview on CNBC's " Squawk on the Street" Monday, Microsoft CEO Satya Nadella highlighted Nuance's health care tools as the key driver behind the acquisition.