Follow Neowin, the EC said that the acquisition did not raise competition concerns in the European Economic Area (EEA), thus allowing the deal to go through.
In its statement, the EC said, “Based on its market investigation, the Commission finds that the transaction will not significantly reduce competition in the transcription software, cloud services, and software markets. , business communication services, customer relationship management, productivity software, and PC operating systems”.
 |
|
Microsoft is getting closer and closer to owning Nuance |
n
Reuters says the deal is the second-biggest acquisition for Microsoft after the company paid $26.2 billion to LinkedIn in 2016 (it paid $16 billion to Nuance). EU approval is one of the final steps towards the deal as the US and Australia are ready for the deal.
Earlier reports said both companies’ boards of directors hoped to close the deal by the end of the year. Microsoft will begin to feel the financial effects of this acquisition in fiscal year 2023.
.
