By augmenting the Microsoft Cloud for Healthcare with Nuance’s solutions, as well as the benefit of Nuance’s expertise and relationships with EHR systems providers, Microsoft will be better able to empower healthcare providers through the power of ambient clinical intelligence and other Microsoft cloud services. Microsoft’s acquisition of Nuance builds upon the successful existing partnership between the companies that was announced in October 2019, where the companies had entered into a strategic partnership to help transform healthcare delivery for a more sustainable future. These efforts include the Microsoft Cloud for Healthcare, introduced in 2020, which aims to address the comprehensive needs of the rapidly transforming and growing healthcare industry. Microsoft has accelerated its efforts to provide industry-specific cloud offerings to support customers and partners as they respond to disruption and new opportunities. Evercore EVR is acting as an exclusive financial advisor to Nuance, while Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as its legal advisor. LLC is acting as an exclusive financial advisor to Microsoft, while Simpson Thacher & Bartlett LLP is acting as its legal advisor. Mark Benjamin will remain CEO of Nuance, reporting to Scott Guthrie, executive vice president of Cloud & AI at Microsoft. The acquisition will not impact the completion of Microsoft’s existing share repurchase authorization (~21 billion remaining). Microsoft expects the acquisition to be minimally dilutive (less than 1%) in FY22 and to be accretive in FY23 to non-GAAP earnings per share, based on the expected close time frame. Upon closing, Microsoft expects Nuance’s financials to be reported as part of Microsoft’s Intelligent Cloud segment. The deal is intended to close by the end of this calendar year and is subject to approval by Nuance’s shareholders, the satisfaction of certain regulatory approvals, and other customary closing conditions. The transaction has been unanimously approved by the Boards of Directors of both Nuance and Microsoft. The acquisition price represents a 23% premium to Nuance’s closing price of $45.58 as on Apr 9. NUAN (NASDAQ NDAQ: NUAN, $53.20, Market Capitalization $15.2 billion) announced a definitive agreement with Microsoft MSFT (MSFT) under which Microsoft will acquire Nuance for $56.00 per share, in an all-cash transaction valued at $19.7 billion, inclusive of Nuance’s net debt. On April 12, 2021, Nuance Communications, Inc.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |