Microsoft’s $16bn Nuance bid secures EU antitrust approval
Tuesday, December 21, 2021 5:04 PM
Microsoft Receives EU Approval for $ 16 Billion Acquisition of Nuance (REUTERS / Mike Segar)
Microsoft’s $ 16 billion offer for AI company Nuance has been approved by the European Commission following an antitrust investigation.
The European Commission today announced the results of an investigation into possible overlaps between Nuance’s services and tech giant Microsoft. In a statement released today, the antitrust authorities said the transaction raises “no competition concerns”.
“The transaction, as notified, would not significantly reduce competition in the markets for transcription software, cloud services, corporate communication services, customer relationship management, productivity software and PC operating systems,” the Commission stated in a statement.
Nuance specializes in transcription services and artificial intelligence and supports Apple in the development of its Siri product.
While both Nuance and potential owner Microsoft are based in the US, the UK government has announced that it will block the deal if it turns out to be harming domestic markets.
Earlier this month, the UK’s Competition and Markets Authority announced its intention to investigate the deal. The watchdog has requested comments from interested parties and stated that it will accept responses until January 10th.
The CMA is tightening its stance towards large technology companies. Last month, the UK watchdog ordered Facebook parent company Meta to sell Giphy a company it bought for $ 400 million in 2020 on fear of harming social media users in the UK by increasing competition between the social media platforms decreased.
Microsoft’s acquisition of Nuance has already been approved by regulatory authorities in the US and Australia.
Continue reading: The CMA showdown with Facebook over Giphy suggests a crackdown
Similar tagged content: