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Microsoft will pay USD 56.00 per share cash. That’s a 23 percent premium to Nuance”s Friday closing price. The companies value the transaction at USD 19.7 billion, including debt.
Shares of Nuance surge about 23 percent in Monday premarket trading.
Microsoft’s acquisition of Nuance comes after the companies formed a partnership in 2019.
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The transaction is Microsoft”s second-largest deal following its USD 26 billion purchase of LinkedIn in 2016. Last September, it bought for video game maker ZeniMax for USD 7.5 billion.
Mark Benjamin will continue as Nuance CEO.
The transaction is expected to close this year. It still needs approval from Nuance shareholders.