12/12/2022, 8:36 AM (Source: TeleTrader)
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Microsoft to buy 4% stake in LSE Group

London Stock Exchange Group plc (LSEG) and Microsoft Corp. announced a 10-year strategic partnership on Monday, as part of which the tech giant will buy a 4% stake in LSEG through the acquisition of shares from the Blackstone/Thomson Reuters Consortium.

The two companies agreed to cooperate on architecting LSEG’s data infrastructure using the Microsoft Cloud and developing new products and services for data and analytics and modeling solutions with Microsoft Azure, AI, and Microsoft Teams. "Bringing together our leading data sets, analytics, and global customer base with Microsoft’s comprehensive and trusted cloud services and global reach creates attractive revenue growth opportunities for both companies," LSEG CEO David Schwimmer stated.

Furthermore, Microsoft’s Cloud and AI Group Executive Vice President Scott Guthrie is set to be appointed as a non-executive director of LSEG "in due course."

Baha Breaking News (BBN) / NP