Microsoft in talks to buy AI firm Nuance for about $16 billion

Microsoft is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications at about $16 billion, according to a source familiar with the matter.

The price being discussed could value Nuance at about $56 a share, the source said, adding that an agreement could be announced as soon as Monday.

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Bloomberg News, which first reported the deal between Nuance and Microsoft, said talks are ongoing and the discussions could still fall apart.

Burlington, Massachusetts-based Nuance whose voice recognition technology helped launch Apple Inc’s assistant Siri, makes software for sectors ranging from healthcare to the automotive industries.

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The deal with Nuance would be Microsoft’s second-biggest deal, after its $26.2 billion acquisition of LinkedIn in 2016.

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