Microsoft to buy 4% stake in LSEG as part of cloud tech 'partnership'
The London Stock Exchange Group has said the deal brings together its"leading data sets, analytics, and global customer base with Microsoft's comprehensive and trusted cloud services".The owner of the London Stock Exchange has revealed that Microsoft is to buy a 4% stake in the business as part of a deal that will see its data platform migrate to cloud technology.
The London Stock Exchange Group said it had made a contractual commitment for a minimum $2.8bn cloud-related spend with the US tech firm over the course of their 10-year partnership.said the basis of the agreement will be the digital transformation of LSEG's technology infrastructure and Refinitiv platforms on to the Microsoft Cloud.
"The initial focus will be on delivering interoperability between LSEG Workspace and Microsoft Teams, Excel and PowerPoint with other Microsoft applications and a new version of LSEG's Workspace," the US company said.Microsoft will buy LSEG shares from the Blackstone/Thomson Reuters consortium, the exchange operator said.
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