U.S. tech giant, Microsoft has announced its plan to take a 4 per cent stake in London Stock Exchange as part of a 10-year strategic partnership to improve the exchange’s data and analytics.
According to a recent statement, as part of the deal, Microsoft will provide LSEG with data analytics and cloud infrastructure products using its Azure, AI and Teams platforms.
The statement stressed further that, “With the Microsoft Cloud and its AI capabilities, the deal significantly advances LSEG’s strategy of building an efficient and scalable platform for its data and analytics business to deliver next-generation services, through improved workflow and greater flexibility”.
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According to the Chief Executive Officer of the London Stock Exchange Group, he said that the deal was “expected to increase LSEG’s revenue growth meaningfully over time as new products come on-stream”.
“Advances in the cloud and AI will fundamentally transform how financial institutions research, interact, and transact across asset classes, and adapt to changing market conditions.”
The companies will work together to “generate business insights, automate complex and time-consuming processes, and ultimately, do more with less”, he said.
He said it was a significant milestone that will transform the experience for its customers.
“We are delighted to welcome Microsoft as a shareholder. We believe our partnership with Microsoft will transform the way our customers discover, analyse and trade securities around the world, and create substantial value over time,” David Schwimmer added.