U.S. technology giant Microsoft Corp. (MSFT) has agreed to take a 4% stake in the London Stock Exchange as part of a 10-year partnership with the British bourse.
The partnership agreement involves the London Stock Exchange using Microsoft’s next-generation data and analytics, as well as cloud computing products.
The deal will also see Microsoft provide new data infrastructure to the London exchange and analytics and modelling solutions through its Microsoft Azure and Microsoft Teams platforms.
The London Stock Exchange has agreed to spend a minimum of $2.8 billion U.S. on Microsoft products over the next decade.
In return, Microsoft has agreed to buy a 4% stake in London Stock Exchange.
Going forward, Microsoft will move the London Stock Exchange’s considerable amount of data into its Azure cloud platform.
Microsoft’s stock is down 27% this year and trading at $245.42 U.S. per share
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