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Microsoft Corporation and Nuance Communications, Inc. announced they have entered into a definitive agreement under which Microsoft will acquire Nuance, which provides a conversational artificial intelligence (AI) software for the health care industry. Nuance’s products include Dragon Ambient eXperience, Dragon Medical One and PowerScribe One for radiology reporting, all leading clinical speech recognition SaaS offerings built on Microsoft Azure. The all-cash transaction is valued at $19.7 billion, inclusive of Nuance’s net debt; it is intended to close by December 31, 2021. Mark Benjamin will remain chief executive officer of Nuance, reporting to Scott Guthrie, executive vice . . .

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