The European Commission on Tuesday gave Microsoft an unconditional no-trust approval for a $16 billion (about Rs 1,20,525 crore) bid for artificial intelligence and speech technology company Nuance Communications.
The United States and Australia already have regulatory approval, and Reuters reported earlier this month that it was set to receive EU approval.
The commission said its investigation into the deal had concluded that it would not reduce competition in markets for transcription software, cloud services, enterprise communications services, PC operating systems and other products.
“The proposed transaction will not create any competition concerns on any of the markets examined in the European Economic Area,” the commission said.
The commission said it investigated issues including overlap between Microsoft’s and Nuance’s transcription software activities, and found that they offered “very different products” that, when combined, would continue to face strong competition from other players.
Tech companies have accelerated the acquisition of AI-focused firms as the technology is more integrated into their products and services.
© Thomson Reuters 2021