Microsoft invests in London Stock Exchange
2022.12.12 03:35
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Microsoft invests in London Stock Exchange
Budrigannews.com – Microsoft intends to acquire a 4 percent equity stake in the London Stock Exchange Group (LON:). as part of a commercial agreement for ten years to move the exchange operator’s data platform to the cloud, the British company said on Monday.
LSEG has signed a contract with Microsoft (NASDAQ:) to spend as little as possible on cloud-related activities as part of the deal. of $2.8 billion over the partnership’s duration.
According to Microsoft, the partnership’s foundation will be the Microsoft Cloud-based digital transformation of LSEG’s technology infrastructure and Refinitiv platforms.
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According to the U.S. company, “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.”
Early on, LSEG shares were up 4%.
Blackstone (NYSE:) offered LSEG $27 billion for the acquisition of Refinitiv. together with Thomson Reuters (NYSE:) consortium, which, following Bloomberg LP, made the exchange the second-largest financial data company.
Since the completion of its acquisition of Refinitiv in January 2021, LSEG stated in a statement that it had made “good progress” on its program for the delivery of its cloud-based data platform.
