Microsoft on Monday announced they are to acquire a 4% equity stake in the London Stock Exchange Group, which owns the London Stock Exchange. The deal is part of a ten-year commercial deal with the $LSEG to migrate the exchange operator’s data platform into the cloud. MSFT will enable digital transformation of LSEG’s technology infrastructure and Refinitiv platforms on to the Microsoft Cloud.
Microsoft will buy LSEG shares from the Blackstone/Thomson Reuters consortium, the British exchange operator said. The transaction is expected to complete in the first quarter of 2023.
Commenting on the deal, LSEG said the link with Microsoft was a partnership to reap the benefits of “consumption-based pricing” and not a traditional cloud deal. “It’s a long term partnership. In terms of the products, we will be building together, I would expect our customers to start to see the benefits of that 18 to 24 months out and we will continue building from there,” Schwimmer told Reuters.
The exchange group’s Chief Executive David Schwimmer said that about a year ago they began talks on a more strategic relationship.
From The TradersCommunity News Desk