Microsoft will become part owner of the London Stock Exchange. The corporation will buy a 4% stake in LSE, the market value of the package is estimated at $2.2 billion. Under the contract, the exchange will spend around $2.8 billion to buy Microsoft solutions for data analytics and cloud infrastructure development.

Microsoft to become co-owner of the London Stock Exchange

About the purchase of a 4% stake in the London Stock Exchange (LSE), Microsoft said on its website. Microsoft Vice President Scott Guthrie will join the LSE board of directors.

The block of Microsoft shares will be redeemed from a consortium of investors Blackstone, Thomson Reuters, Canada Pension Plan Investment Board and Singapore’s sovereign wealth fund GIC.

Freedom Finance Global analysts, based on the weighted average price of the shares over the past 30 days, estimated the value of the package at $2.2 billion.

“This amount corresponds to 9.6% of the cash on Microsoft’s balance sheet at the end of the third quarter of this year,” said Yegor Tolmachev, an analyst at Freedom Finance Global.

Microsoft and the LSE will use Azure Purview and Azure Synapse to create a cloud-based data architecture that consolidates the LSE’s data sets into a single infrastructure built with security in mind. Exchange clients will be able to access data faster, which will positively affect the adaptability to the development of capital markets.

The LSE and Microsoft will also work together to create a comprehensive data, analytics and workflow solution to help finance and investment professionals improve communications and productivity while complying with regulations.

Microsoft and LSE will use Azure Machine Learning and sophisticated modeling to jointly develop a suite of solutions that give financial professionals a broader reach through non-traditional cross-asset analytics. Businesses that rely on analytics will be able to scale without getting involved in complex processes that require additional servers, hardware, and human resources.

Under the ten-year contract, the London Stock Exchange is obligated to purchase $2.8 billion of Microsoft products and services, which also applies to solutions for data analytics and cloud infrastructure development. .

Author:

Kirill Bilyk

Source: RB

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I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.

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