![]() Microsoft’s acquisition of Nuance builds upon the successful existing partnership between the companies that was announced in October 2019, where the companies had entered into a strategic partnership to help transform healthcare delivery for a more sustainable future. These efforts include the Microsoft Cloud for Healthcare, introduced in 2020, which aims to address the comprehensive needs of the rapidly transforming and growing healthcare industry. Microsoft has accelerated its efforts to provide industry-specific cloud offerings to support customers and partners as they respond to disruption and new opportunities. Nuance Communications Price Performance and Spin-Off Details Spin-Off Research EvercoreĮVR is acting as an exclusive financial advisor to Nuance, while Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as its legal advisor. LLC is acting as an exclusive financial advisor to Microsoft, while Simpson Thacher & Bartlett LLP is acting as its legal advisor. Mark Benjamin will remain CEO of Nuance, reporting to Scott Guthrie, executive vice president of Cloud & AI at Microsoft. ![]() The acquisition will not impact the completion of Microsoft’s existing share repurchase authorization (~21 billion remaining). Microsoft expects the acquisition to be minimally dilutive (less than 1%) in FY22 and to be accretive in FY23 to non-GAAP earnings per share, based on the expected close time frame. Upon closing, Microsoft expects Nuance’s financials to be reported as part of Microsoft’s Intelligent Cloud segment. The deal is intended to close by the end of this calendar year and is subject to approval by Nuance’s shareholders, the satisfaction of certain regulatory approvals, and other customary closing conditions. The transaction has been unanimously approved by the Boards of Directors of both Nuance and Microsoft. The acquisition price represents a 23% premium to Nuance’s closing price of $45.58 as on Apr 9. MSFT (MSFT) under which Microsoft will acquire Nuance for $56.00 per share, in an all-cash transaction valued at $19.7 billion, inclusive of Nuance’s net debt. NDAQ: NUAN, $53.20, Market Capitalization $15.2 billion) announced a definitive agreement with Microsoft On April 12, 2021, Nuance Communications, Inc. Photographer: Tiffany Hagler-Geard/Bloomberg © 2021 Bloomberg Finance LP Microsoft Corp. is buying speech-recognition pioneer Nuance Communications Inc. in an all-cash deal valued at $19.6 billion, gaining artificial-intelligence technology aimed at helping doctors predict patients’ needs and upgrading hospitals’ digital record-keeping. logo on a laptop computer arranged in Dobbs Ferry, New York, U.S., on. “By working together with Nuance, and applying the power of Azure and Azure AI, we aim to positively transform the day-to-day life of front-line care providers–ultimately empowering them to provide optimal health for their patients.The Nuance Communications Inc. ![]() “As AI continues to improve, we expect it will empower our health system partners to turn their observations into actions-to reduce risk, flag concerns, and even help guide clinicians to the most effective care plans,” Greg Moore, corporate vice president of health technology and alliances for Microsoft, said in the same statement. Microsoft’s EmpowerMD ambient intelligence technology is also a crucial part of the solution’s design. The Nuance DAX solution was developed on Microsoft’s Azure platform. We’ve delivered an unobtrusive solution that is as present and available as the light in the exam room-and already producing meaningful results for clinicians and their patients.” Our development of Nuance DAX began with a deep understanding of how doctors need and want to work. “It is equally important that we return to patients their doctors’ undivided attention. ![]() “It is essential to develop technology that empowers clinicians so that they can get back to doing what they trained for and love,” Joe Petro, chief technology officer for Nuance, said in a prepared statement. ![]()
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