Microsoft is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications for 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. Nuance shares closed Friday at $45.58.
Bloomberg News, which first reported the deal (paywall) between Nuance and Microsoft, said talks are ongoing and the discussions could still fall apart.
Burlington, Mass.-based Nuance whose voice recognition technology helped launch Apple’s assistant Siri, makes software for sectors ranging from healthcare to the automotive industries.
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 respond to Reuters’ request for comment.