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(Reuters) — 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.

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

Burlington, Massachusetts-based Nuance, whose voice recognition technology helped launch Apple assistant Siri, makes software for sectors ranging from health care to the automotive industry.


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

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

Update 5:38 a.m. PT: Microsoft confirmed it will buy Nuance Communications in a $19.7 billion deal as the tech giant looks to bolster its suite of enterprise applications with the artificial intelligence firm’s advanced speech technology.

Microsoft’s offer price of $56 per share is at a premium of 22.86% over Nuance’s last close at $45.58.

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