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Microsoft announced a 10-year strategic partnership with London Stock Exchange Group (LSEG) to host financial market providers’ infrastructure and data analytics on Microsoft’s cloud network, acquiring a 4% stake in the group.
Seasoned cloud industry watchers will know how these types of strategic partnerships work. The customer comes on board at an undisclosed price, the salesperson comes on board by making the right noise to improve customer and end-user experience and productivity. However, this is different. Microsoft has agreed to buy about a 4 percent stake in LSEG by buying shares from the Blackstone/Thomson Reuters consortium.
Microsoft noted With LSEG’s acquisition of data services provider Refinitiv, Completed in early 2021, the company had its own impressive technology stack in terms of infrastructure and data. Microsoft noted that LSEG “differentiates itself in the market by offering end-to-end commerce, performance, data and analytics solutions.”
Capital markets firms face a “complex operating environment,” Microsoft added, adding that traditional revenue streams are becoming “more difficult.” Therefore, a cloud and AI-driven technology stack is essential to break down legacy, closed platforms and deliver the best experience, insights and tools to customers. “LSEG has begun to address these issues in front of our customers, and through this strategic partnership, we will accelerate this transformation,” Microsoft added.
In terms of nuts and bolts, LSEG will use a wide range of Microsoft’s collaboration portfolio. LSEG’s technology infrastructure, data and analytics platforms, including the Refinitiv platform, will move to Microsoft’s cloud. The companies promised an open financial platform that would “continually democratize data, create new opportunities for collaboration and monetization across the financial services ecosystem.” Internal collaboration will be done through LSEG Workspace, which is offered by Microsoft Teams, and improved Excel integration is also noted.
David Schwimmer, Chief Executive Officer of the London Stock Exchange, said: “Combining Microsoft’s comprehensive and trusted cloud services, our leading data sets, analytics and global customer base with global access creates an exciting opportunity to grow revenue for both companies. .”
Among Microsoft’s latest quarterly wins for other customers and partnerships InformationBecame the first partner in Microsoft’s Intelligent Data Platform partner ecosystem Our future healthPromoted as the UK’s largest health research programme.
You can read more about the contract here here.
(Fig David Vincent above Stream)
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