Microsoft (MSFT) is purchasing a 4 percent stake in the London Stock Exchange Group (LSEG), part of a 10-year agreement with the exchange, the company announced today (Dec. 12).
The technology company will purchase the shares from a consortium of Blackstone (BX) and Thomson Reuters (TRI) for a reported $2 billion.
In return, LSEG will spend at least $2.8 billion on Microsoft cloud services, in addition to migrating its data platform over to the company’s infrastructure.
Scott Guthrie, executive vice president of Microsoft’s cloud and AI group, is also expected to be appointed as a non-executive director of LSEG.
“Bringing together our leading data sets, analytics, and global consumer base with Microsoft’s comprehensive and trusted cloud services and global reach creates attractive revenue growth opportunities for both companies,” said David Schwimmer, CEO of LSEG, in a statement.
