What you need to know
- Microsoft and the London Stock Exchange Group announced a 10-year partnership.
- As part of the agreement, the London Stock Exchange Group will migrate to the Microsoft Cloud and spend a minimum of $2.8 billion on cloud-related products and services.
- Microsoft will purchase approximately a 4% equity stake in the London Stock Exchange Group.
Microsoft and the London Stock Exchange Group (LSEG) just announced a 10-year partnership that includes Microsoft acquiring approximately a 4% equity stake in LSEG and the group moving its data infrastructure to the Microsoft Cloud. The two organizations will also co-develop new products and services for data and analytics.
As part of the agreement, LSEG will migrate its “data platform and other key technology infrastructure” to Microsoft Azure. Additionally, LSEG’s data and analytics solution Workspace” will become interoperable with select Microsoft applications.
LSEG customers will be able to communicate using Microsoft Teams. They’ll be able to create financial models and run data analysis with Microsoft Excel as well.
“Our partnership will bring together the industry leadership of the London Stock Exchange Group with the trust and breadth of the Microsoft Cloud — spanning Azure, AI, and Teams — to build next-generation services that will empower our customers to generate business insights, automate complex and time-consuming processes, and ultimately, do more with less,” said Microsoft Chairman and CEO Satya Nadella.
David Schwimmer, the CEO of LSEG, also commented on the agreement.
“This strategic partnership is a significant milestone on LSEG’s journey towards becoming the leading global financial markets infrastructure and data business, and will transform the experience for our customers.”
He continued, “we are delighted to welcome Microsoft as a shareholder. We believe our partnership with Microsoft will transform the way our customers discover, analyze, and trade securities around the world, and create substantial value over time. We look forward to delivering on that potential.”
LSEG will spend a minimum of $2.8 billion on cloud-related spending throughout the partnership. Microsoft’s announcement of the agreement explained that the cloud spending by LSEG will lean toward the second half of the 10-year deal.
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Sean Endicott brings nearly a decade of experience covering Microsoft and Windows news to Windows Central. He joined our team in 2017 as an app reviewer and now heads up our day-to-day news coverage. If you have a news tip or an app to review, hit him up at firstname.lastname@example.org.