INTERN DAILY
← INTERNDAILY  |  Home INTERNDAILY

EU clears Microsoft buyout of telemedicine-oriented Nuance

by AFP Staff Writers Brussels (AFP) Dec 21, 2021 AFP
The EU on Tuesday cleared Microsoft's purchase of artificial intelligence and cloud computing company Nuance, one of the biggest transactions in the fast-growing telemedicine sector.

The bloc's powerful antitrust authority said the $19.7 billion buyout posed no competition concerns in the European Union.

After an investigation, the European Commission said that "the proposed transaction would raise no competition concerns on any of the markets examined" and that it "cleared the case unconditionally".

The European greenlight came as the EU is preparing new rules that would put tighter limits on the ability of tech giants, including Microsoft, to buy out rivals.

Nuance's technology is used extensively in medical records and is currently employed in more than three-quarters of US hospitals.

This acquisition builds on the existing partnership between the two companies, which have been collaborating since 2019 in telemedicine, a sector whose growth has been spurred exponentially by Covid-19 lockdowns around the world.

The deal comes on the heels of Microsoft's 2016 purchase of LinkedIn for $27 billion and represents "the latest step in Microsoft's industry-specific cloud strategy," the company said.

The content herein, unless otherwise known to be public domain, is Copyright 1995-2026 Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principles for news reporting and research purposes.