Microsoft logo seen at their building in Redmond, Washington.
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The partnership involves next-generation data and analytics, as well as cloud infrastructure solutions, according to a statement by the LSEG. It involves a new data infrastructure for the London exchange and analytics and modelling solutions with Microsoft Azure, AI, and Microsoft Teams.
“This strategic partnership is a significant milestone on LSEG’s journey towards becoming the leading global financial markets infrastructure and data business, and will transform the experience for our customers,” David Schwimmer, CEO of LSEG, said in the statement.
Microsoft will purchase an approximately 4% stake in the U.K. firm from the Blackstone/Thomson Reuters Consortium.
The release also said that Scott Guthrie, Microsoft’s executive vice president for the Cloud and AI Group, will be appointed as a non-executive director of LSEG.
LSEG’s shares were seen up 4% or 5% ahead of the market open in Europe on Monday.
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