Microsoft buys near 4% stake in London Stock Exchange and launches 10-year partnership

LONDON — U.S. tech elephantine Microsoft connected Monday announced a 10-year concern with the London Stock Exchange Group and took a adjacent 4% involvement successful the U.K. bourse operator.

The concern involves next-generation information and analytics, arsenic good arsenic unreality infrastructure solutions, according to a connection by the LSEG. It involves a caller information infrastructure for the London speech and analytics and modelling solutions with Microsoft Azure, AI, and Microsoft Teams.

"This strategical concern is simply a important milestone connected LSEG's travel towards becoming the starring planetary fiscal markets infrastructure and information business, and volition alteration the acquisition for our customers," David Schwimmer, CEO of LSEG, said successful the statement.

Microsoft volition acquisition an astir 4% involvement successful the U.K. steadfast from the Blackstone/Thomson Reuters Consortium.

The merchandise besides said that Scott Guthrie, Microsoft's enforcement vice president for the Cloud and AI Group, volition beryllium appointed arsenic a non-executive manager of LSEG.

LSEG's shares were seen up 4% oregon 5% up of the marketplace unfastened successful Europe connected Monday.

Satya Nadella, the president and CEO of Microsoft, said: "Advances successful the unreality and AI volition fundamentally alteration however fiscal institutions research, interact, and transact crossed plus classes, and accommodate to changing marketplace conditions."

The London Stock Exchange agreed to bargain fiscal accusation firm Refinitiv backmost successful 2019 successful a woody that was valued astatine $27 billion.

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