Microsoft in Talks to Buy Massachusetts Based AI Firm Nuance For $16 billion

FILE PHOTO: A Microsoft logo is seen in Los Angeles

Microsoft Corp is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc at about $16 billion, Bloomberg News reported on Sunday.

An agreement could be announced as soon as this week, Bloomberg said citing people familiar with the matter.

The price being discussed could value Nuance at about $56 a share, one of the people told Bloomberg, though the terms could still change.

Talks between Burlington, Massachusetts-based Nuance and Microsoft are ongoing and the discussions could still fall apart, the report added.

Microsoft and Nuance did not immediately respond to Reuters’ request for comment.

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(Reporting by Radhika Anilkumar in Bengaluru; Editing by Daniel Wallis and Lisa Shumaker)