According to the Financial Times newspaper, the deal is expected to set the company’s share value at $ 56, with a 23 percent premium compared to the closing on Friday. According to sources speaking to the newspaper, the final agreement will be announced next week.
Based in Massachusetts USA, Nuance previously developed the voice recognition system of Apple’s virtual assistant Siri. Siri, an application that combines speech recognition with advanced natural language processing, allows the software to understand speeches and demands by using artificial intelligence on mobile devices.
Nuance merged with ScanSoft, its competitor in the commercial large-scale speech application business, in October 2005. After ScanSoft acquired Nuance, its biggest competitor at the time, the two companies merged under the name “Nuance Communications”.