Microsoft has bought a 4% share in the London Stock Exchange

Date:
Mon, 12 Dec 2022 11:15:58 +0000

Description:
Partnership with the London Stock Exchange group will bring various Microsoft products, and new market analysis tools, to finance customers.

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Microsoft is set to purchase an approximate 4% stake in the London Stock Exchange Group (LSEG) as part of a new strategic partnership that will se the LSEGs data infrastructure migrate to Microsofts cloud hosting platform Azure
.

The financial data provider also claims that the Workspace platform will become interoperable with the video conferencing platform Teams and the
office software suite 365 .

In a press release , the LSEG revealed that the company has committed to a minimum cloud-related spend of $2.8 billion (2.3 billion), with additional spend conditional on how Microsofts involvement drives demand for LSEGs financial analytics platform Workspace and other related services. Microsoft and the LSEGs partnership

Its not all about product migration, though. The LSEG hopes to develop new products and services for data and analytics alongside Microsoft, following the formers acquisition of Refinitiv , another financial data provider, in February 2021.

This strategic partnership is a significant milestone on the LSEGs journey towards becoming the leading global financial markets infrastructure and data business, and will transform the experience for our customers, said David Schwimmer, the LSEGs CEO.

Satya Nadella, Chairman and CEO at Microsoft said that our partnership will bring together the industry leadership of the London Stock Exchange Group
with the trust and breadth of the Microsoft Cloud, spanning Azure, AI , and Teams to build next-generation services that will empower our customers to generate business insights [and] automate complex and time-consuming processes.

So, both companies are claiming that the partnership will change the way financial sector customers conduct business, but its also, shock horror,
about money.

Bringing together our leading data sets, analytics, and global customer base with Microsofts comprehensive and trusted cloud services and global reach creates attractive revenue growth opportunities for both companies, Schwimmer continued.

The LSEG estimates that the costs of the partnership between 2023-2025 will
be between 250-350 million. Despite this, and the mammoth minimum spend, it also believes that its revenue will see a meaningful boost over time as new jointly developed analytics products become available for its customers. Read more

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The partnership with the LSEG will continue to frustrate Microsofts competitors in the video conferencing and collaboration space as it continues to throw money at securing a monopoly.

In November 2022, Slack threatened an antitrust lawsuit in the European Union over Microsoft Teams sheer dominance, and its certainly likely that the LSEG partnership will drive even more users in the financial sector over to the service. Heres our list of the best productivity tools right now



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Link to news story: https://www.techradar.com/news/microsoft-has-bought-a-4-share-in-the-london-st ock-exchange


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