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Exhibit 99.1 Microsoft accelerates industry cloud strategy for healthcare with the acquisition of Nuance Acquisition will combine solutions and expertise to deliver new cloud and AI capabilities across healthcare and other industries REDMOND , Wash . , and BURLINGTON , Mass . - April 12 , 2021 - Microsoft Corp ( Nasdaq : MSFT ) and Nuance Communications , Inc. ( Nasdaq : NUAN ) today announced they have entered into a definitive agreement under which Microsoft will acquire Nuance for $ 56.00 per share , implying a 23 % premium to the closing price of Nuance on Friday , April 9 , in an all - cash transaction valued at $ 19.7 billion , inclusive of Nuance's net debt . Nuance is a trusted cloud and AI software leader representing decades of accumulated healthcare and enterprise AI experience . Mark Benjamin will remain CEO of Nuance , reporting to Scott Guthrie , executive vice president of Cloud & AI at Microsoft . The transaction is intended to close this calendar year . Microsoft has accelerated its efforts to provide industry - specific cloud offerings to support customers and partners as they respond to disruption and new opportunities . 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 . Today's acquisition announcement represents the latest step in Microsoft's industry - specific cloud strategy . Nuance is a pioneer and a leading provider of conversational AI and cloud - based ambient clinical intelligence for healthcare providers . Nuance's products include the Dragon Ambient experience , Dragon Medical One and PowerScribe One for radiology reporting , all leading clinical speech recognition SaaS offerings built on Microsoft Azure . Nuance's solutions work seamlessly with core healthcare systems , including longstanding relationships with Electronic Health Records ( EHRs ) , to alleviate the burden of clinical documentation and empower providers to deliver better patient experiences . Nuance solutions are currently used by more than 55 % of physicians and 75 % of radiologists in the U.S. , and used in 77 % of U.S. hospitals . Nuance's Healthcare Cloud revenue experienced 37 % year - over - year growth in Nuance's fiscal year 2020 ( ended September 2020 ) . Microsoft's acquisition of Nuance builds upon the successful existing partnership between the companies that was announced in 2019. 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 . The acquisition will double Microsoft's total addressable market ( TAM ) in the healthcare provider space , bringing the company's TAM in healthcare to nearly $ 500 billion . Nuance and Microsoft will deepen their existing commitments to the extended partner ecosystem , as well as the highest standards of data privacy , security and compliance . " Nuance provides the AI layer at the healthcare point of delivery and is a pioneer in the real - world application of enterprise AI , " said Satya Nadella , CEO , Microsoft . " AI is technology's most important priority , and healthcare is its most urgent application . Together , with our partner ecosystem , we will put advanced AI solutions into the hands of professionals everywhere to drive better decision - making and create more meaningful connections , as we accelerate growth of Microsoft Cloud in Healthcare and Nuance . "