Microsoft and the London Stock Exchange Group announced Monday that the Seattle-based tech giant will buy up to 4% of the group for $1.8 billion. The investment comes with a 10-year partnership that will enmesh Microsoft’s services into the exchange’s operations.
Microsoft says it’s going to thread both its cloud and its AI tech into LSEG’s analytics infrastructure, with LSEG promising to spend $2.8 billion on cloud-related tech over the course of the partnership, eventually making LSEG’s platform indistinguishable from Microsoft’s suite.
Microsoft isn’t the first Big Tech company with a cloud division to go chasing after a major exchange. Google Cloud bagged a decade-long deal with CME Group for $1 billion in November last year, and around the same time, Amazon Web Services (the market leader in cloud software and Amazon’s most-profitable wing) announced a partnership with NASDAQ.
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