Microsoft to Buy 4% of London Stock Exchange Group on Cloud Deal
- A 4% stake in LSEG was valued at around $2 billion on Friday
- Bourse to spend minimum of $2.8 billion on cloud services
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Microsoft Corp. agreed to buy a 4% stake in London Stock Exchange Group Plc in a $2.8 billion cloud-computing deal that pushes big tech further into financial markets.
As part of the agreement, LSEG said it will spend at least that amount on cloud services with Microsoft over the next 10 years. The partnership will speed up the migration of its markets to the cloud and allow it to develop new products and services, it said Monday.