Microsoft will buy about 4 percent equity stake in London Stock Exchange Group (LSEG) as part of a 10-year Cloud deal to migrate the bourse operator’s data platform into the cloud.
The British company said on Monday Microsoft will buy London Stock Exchange’s shares from the Blackstone / Thomson Reuters Consortium.
London Stock Exchange has made a contractual commitment for minimum cloud-related spend with Microsoft of $2.8 billion over the term of the partnership.
London Stock Exchange bought Refinitiv for $27 billion in 2021, which turned the exchange into the second largest financial data company after Bloomberg.
Thomson Reuters, which owns Reuters News, has a minority shareholding in LSEG following the Refinitiv deal.
London Stock Exchange has made good progress on its program for the delivery of its cloud-based data platform since the completion of the Refinitiv acquisition in January 2021.