Partnership with the London Stock Exchange group will bring various Microsoft products, and new market analysis tools, to finance customers.
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 LSEG’s data infrastructure migrate to Microsoft’s 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 (opens in new tab), 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 Microsoft’s involvement drives demand for LSEG’s financial analytics platform Workspace and “other related services”.
It’s not all about product migration, though. The LSEG hopes to develop “new products and services for data and analytics” alongside Microsoft, following the former’s acquisition of Refinitiv (opens in new tab), another financial data provider, in February 2021.
