- The exchange will be able to use Microsoft’s cloud and data analytics services going forward.
- The major stock exchange said they anticipate the agreement to boost their revenue.
Microsoft, a titan in the American software industry, has announced a 10-year strategic relationship with the London Stock Exchange Group (LSEG). The exchange will be able to use Microsoft’s cloud and data analytics services going forward, per the release.
Today, Microsoft and the London Stock Exchange announced a 10-year strategic agreement, during which Microsoft will purchase a 4% stake in the LSEG. The technology firm’s goal is to enhance the stock exchange’s access to data and analytics. Microsoft will provide the stock exchange with data analytics and cloud infrastructure using its Azure, AI, and Teams platforms.
The company stated:
“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.”
Strategic Approach by the Tech Giant
The major stock exchange said they anticipate the agreement to boost their revenue when new products are released. The Blackstone/Thomson Reuters Consortium is selling 4% of its stake in LSEG to the tech business established by Bill Gates.
Executive vice president of Microsoft’s Cloud and AI business Scott Guthrie is joining LSEG as a non-executive director. The London Stock Exchange has agreed to invest a minimum of $2.8 billion in cloud-related goods over the next decade. This is “consistent with existing long-term” expenditure plans, the stock exchange said. The two organizations have decided to collaborate in order to create innovative professional communication and teamwork tools.
Microsoft is competing with other big tech companies like Meta, Google, and Apple to supply the metaverse’s preeminent operating system. The company’s long-term objective is to integrate its Azure backend services with a Windows operating system for the Metaverse they are developing.
