Case Study: Navigating Australian Competition Concerns in Nuance's Acquisition by Microsoft
The background
We acted for transcription software company Nuance on the Australian competition aspects of its US$19.7 billion sale to Microsoft Corporation. The ACCC commenced a public review on 12 August 2021 and did not oppose the transaction on 7 October 2021. The transaction was also subject to review by the DOJ in the US, the CMA in the UK, and the European Commission, among other authorities. Our team coordinated closely with Nuance's counsel teams globally.
The importance
Nuance is a pioneer in the provision of conversational AI and cloud-based ambient clinical intelligence for healthcare providers. The ongoing digital transformation of the healthcare sector has only accelerated as a result of the COVID-19 pandemic. When the deal was announced, Microsoft CEO Satya Nadella, said: “AI is technology’s most important priority, and healthcare is its most urgent application. Together, with our partner ecosystem, we will put advanced AI solutions into the hands of professionals everywhere to drive better decision-making and create more meaningful connections, as we accelerate growth of Microsoft Cloud for Healthcare.”
Acquisitions by big technology companies like Microsoft are under increasing scrutiny by competition authorities globally. This transaction was subject to review by seven competition authorities globally.