Microsoft has announced a majo...

Microsoft has announced a major acquisition of Nuance Communications, a company specializing in artificial intelligence (AI) and speech recognition technology. The deal, worth $19.7 billion, is one of Microsoft's largest acquisitions to date.

Nuance is best known for its Dragon speech recognition software, which is widely used in industries such as healthcare, finance, and customer service. Microsoft plans to use Nuance's technology to enhance its own cloud-based offerings, including its Azure AI and healthcare initiatives.

In a statement, Microsoft CEO Satya Nadella said, "AI is technology's most important priority, and healthcare is its most urgent application. Together, with our partner ecosystem, we will put advanced AI solutions into the hands of professionals everywhere to drive better decision-making and create more meaningful connections."

The acquisition is expected to close by the end of 2021, pending regulatory approvals.