Microsoft is planning a 4 percent stake in the London Stock Exchange Group12. December 2022
Microsoft is planning a 4 percent stake in the London Stock Exchange Group
Microsoft announced plans to acquire a 4% stake in London Stock Exchange Group (LSEG), part of a long-term deal to migrate the market operator’s technical infrastructure and data platform to the tech giant’s cloud. As part of the decade-long partnership, the London Stock Exchange has agreed to spend at least $2.8 billion on Microsoft cloud services and products.
Under the terms, the exchange will receive new data infrastructure, analytics and modeling services provided by Microsoft Azure, Teams and AI.
LSEG will be able to share its analytics and data across Team and Microsoft 365, including Excel and PowerPoint. In addition, the companies will work to further develop and integrate LSEG’s workspace data and analytics platform into Teams.
Microsoft announced it would buy the Blackstone/Thomson Reuters Consortium, which data and analytics company Refinitiv sold to LSEG for $27 billion last year.
The purchase is expected to close in the first quarter of 2023. As part of the transaction, Scott Guthrie, Microsoft’s EVP of cloud and AI, will join LSEG as a non-executive director.