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  • Friday, April 26, 2024

Microsoft Gets Antitrust Clearance for Proposed Nuance Acquisition

Microsoft (Nasdaq: MSFT) received U.S. antitrust approval to proceed with its proposed acquisition of Nuance Communications (Nasdaq: NUAN), a Burlington, Massachusetts-based artificial intelligence and speech recognition company, Reuters reported Friday.

The deadline for the U.S. government to oppose the transaction expired on June 1 and the expiration of that waiting period “satisfies one of the conditions to the closing of the merger,” Nuance said Friday in its Securities and Exchange Commission filing.

A spokesperson for Microsoft said the transaction is now being reviewed by regulators in other jurisdictions and is expected to conclude at the end of calendar year 2021.

In April, Microsoft announced that it agreed to acquire Nuance for $56 per share in an all-cash transaction worth $19.7 billion, including the latter company’s net debt, as part of efforts to deliver cloud and AI capabilities across health care and other industries.

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