by Microsoft is preparing to purchase “approximately” 4% of the London Stock Exchange Group (LSEG) as part of a new strategic partnership that will enable the transition of LSEG’s data infrastructure to Microsoft’s data infrastructure. cloud hosting platform sky blue.
The financial data provider also claims that the Workspace platform will become “interoperable.” video conferencing platform Teams and office software suite 365.
Inside Press release (opens in new tab), LSEG is committed to the company’s “minimum spend on cloud” of $2.8 billion (£2.3 billion), with additional spending based on how Microsoft’s involvement drives demand for LSEG’s financial analytics platform Workspace and “other related services”. revealed that he did.
Partnership of Microsoft and LSEG
It’s not all about shipping products, though. LSEG hopes to develop “new products and services for data and analytics” alongside Microsoft. Buying Refinitiv (opens in new tab)another financial data provider, in February 2021.
“This strategic partnership marks a significant milestone in LSEG’s path to becoming the leading global financial markets infrastructure and data business and will transform the experience for our customers,” said LSEG CEO David Schwimmer.
“Our partnership will combine the industry leadership of the London Stock Exchange Group with the confidence and breadth of the Microsoft Cloud, which spans Azure,” said Satya Nadella, Microsoft Chairman and CEO. AIand Teams to create next-generation services that empower our customers to create business insights. [and] automate complex and time-consuming processes.”
As such, both companies claim that the partnership will change the way financial sector clients do business, but it’s also a shocking fear of money.
“Combining our leading datasets, analytics, and global customer base with Microsoft’s extensive and reliable cloud services and global reach creates attractive revenue growth opportunities for both companies,” Schwimmer continued.
LSEG estimates that the costs of the partnership between 2023 and 2025 will be between £250-350m. Despite this and the massive minimal outlay, it also believes its revenue will see a “significant increase” over time as new jointly developed analytics products become available to customers.
Partnership with LSEG will continue to disappoint Microsoft’s competitors in video conferencing and partnership space while continuing to scatter money to secure a monopoly.
Slack in November 2022 threatened with antitrust lawsuit The sheer dominance of Microsoft Teams in the European Union and the LSEG partnership is certainly likely to attract even more users in the financial sector.
