What did Microsoft Corp pay for Nuance Communications, Inc.?

Microsoft Corp acquired Nuance Communications, Inc. for $18.76B in 2021 (45.9x EBITDA), equivalent to 13.50x revenue. Target revenue was approximately $1387.0M. Target EBITDA was approximately $409.0M.

What does Nuance Communications, Inc. do?

Nuance Communications, Inc. is a healthtech business.

What multiple did Microsoft Corp pay for Nuance Communications, Inc.?

45.9x EBITDA and 13.50x revenue, based on disclosed deal value of $18.76B and disclosed financials.

M&A TRANSACTION · 2021

Nuance Communications, Inc. acquired by Microsoft Corp

$18.76B· 45.9x EBITDA· 13.50x revenue

Target

Nuance Communications, Inc.

Acquirer

Microsoft Corp

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$1387.0M

EBITDA

$409.0M

Deal Value

$18.76B

EV/EBITDA

45.9x

Context

This $18.76B acquisition of Nuance Communications, Inc. by Microsoft Corp sits in the healthtech sub-vertical. The 45.9x EBITDA multiple paid in 2021 can be compared against the population median for healthtech transactions of similar size on our Healthtech valuation hub. Microsoft Corp is acquiring as a strategic buyer; see how strategic acquirers typically price healthtech businesses on our Healthtech strategic buyer-pool page.

Source

Data sourced from SEC Fairness Opinion — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2021). Nuance Communications, Inc. acquired by Microsoft Corp. https://exitvalue.ai/deals/nuance-communications-inc-acquired-by-microsoft-corp-fairness-opi