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Microsoft’s $16 billion Nuance bid gets EU antitrust approval -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A Microsoft logo can be seen in Los Angeles (California U.S.A) November 7, 2017. REUTERS/Lucy Nicholson

BRUSSELS (Reuters), – Tuesday’s European Commission approval granted unconditional antitrust approval to Microsoft (NASDAQ) for the $16 billion acquisition of artificial intelligence and speech company. Nuance Communications (NASDAQ:).

It is Microsoft’s second-largest deal after its purchase of LinkedIn for $26.2 million in 2016. This would allow Microsoft to increase its cloud services and healthcare offerings.

The product has received regulatory approval from the United States of America and Australia. Reuters also reported this month that it is expected to be granted EU approval.

The Commission stated that its investigation had found no evidence of a significant decrease in competition for enterprise communication services and transcription software.

According to the Commission, “The transaction proposed would not cause any competition concerns in any of the European Economic Area markets,”

Nuance, a U.S. company that serves 77% U.S. hospitals, helped to launch Apple’s Siri virtual assistant (NASDAQ:).

According to the Commission it has examined potential overlaps in Microsoft and Nuance’s activities as transcription software developers and determined that both offered “very different products”, which would be subject to strong competition by other players when combined.

As more companies integrate AI into their products, tech companies are increasing the number of acquisitions by AI-focused businesses.

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