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Microsoft to take 4% stake in London Stock Exchange

Staff by Staff
December 12, 2022
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US tech group Microsoft is to take a 4 per cent stake in London Stock Exchange as part of a 10-year strategic partnership to improve the exchange’s data and analytics.

As part of the deal, Microsoft will provide LSEG with data analytics and cloud infrastructure products using its Azure, AI and Teams platforms, according to a statement on Monday.

“With the Microsoft Cloud and its AI capabilities, the deal significantly advances LSEG’s strategy of building an efficient and scalable platform for its data and analytics business to deliver next-generation services . . . through improved workflow and greater flexibility,” the statement said.

The stock exchange said the tech moves were “expected to increase LSEG’s revenue growth meaningfully over time as new products come on-stream”.

Microsoft will buy 4 per cent of LSE’s shares from the Blackstone/Thomson Reuters Consortium.

Scott Guthrie, executive vice-president of Microsoft’s Cloud and AI unit, will be appointed as a non-executive director of LSEG.

Read the full article here

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