Microsoft plans to acquire a 4% share in the London Stock Exchange.

In a partnership that illustrates the expanding use of data and technology in global finance, Microsoft Corp. will acquire a 4% share in the parent company of the London Stock Exchange and offer cloud computing services to the financial markets firm.

The agreement made public on Monday requires the owner of Europe’s largest stock exchange by market value, London Stock Exchange Group PLC, to spend $2.8 billion over the next ten years on Microsoft goods, primarily its Azure cloud service.

Blackstone and Thomson Reuters will sell their LSEG interests to Microsoft (TRI). The transaction is anticipated to be finished in the first quarter of 2023.

This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.