Microsoft Plans to Acquire a 4% Stake in the London Stock Exchange.

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In exchange for a 10-year contract to move the data platform of the exchange operator to the cloud, Microsoft (MSFT. O) will purchase a 4% equity stake in London Stock Exchange Group (LSEG.L). This was announced by the British company.

As a condition of the agreement, LSEG has agreed to spend a minimum of $2. 8 billion with Microsoft on cloud-related services over the partnership’s duration.

The digital transformation of LSEG’s technology infrastructure and Refinitiv platforms onto the Microsoft Cloud, according to Microsoft, will form the cornerstone of the partnership.

Early trading saw a 4% increase in LSEG shares. Refinitiv was acquired by LSEG for $27 billion from a Blackstone and Thomson Reuters consortium, making the exchange the second-largest provider of financial data after Bloomberg LP.

Reuters.

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