LONDON: US software giant Microsoft will buy a four per cent stake in the London Stock Exchange Group under a new IT services tie-up, the pair announced on Monday.

The long-term partnership focuses “next-generation data and analytics and cloud infrastructure solutions” including artificial intelligence (AI), a statement said.

Microsoft will acquire a holding worth 1.5bn-sterling ($1.8bn) at current prices, while London Stock Exchange Group (LSEG) committed to spending a minimum of $2.8bn on cloud-related services.

Published in Dawn, December 13th, 2022

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Broken promises

Broken promises

Perhaps the biggest impediment to the successful mainstreaming of ex-Fata and its development has been the lack of funding.

Editorial

Wake-up call
09 Nov, 2024

Wake-up call

THE United Nations Human Rights Committee has sent a clear message to the government: it must work to bring the...
Foreign banks’ exit
09 Nov, 2024

Foreign banks’ exit

WHY are foreign banks leaving Pakistan? In the last couple of decades, we have seen a number of global banking...
Kurram protest
09 Nov, 2024

Kurram protest

FED up with the state’s apathy towards their plight, the people of Kurram tribal district took to the streets on...
IHK resolution
Updated 08 Nov, 2024

IHK resolution

If the BJP administration were to listen to Kashmiris, it could pave the way for the resumption of the political process in IHK.
Climate realities
08 Nov, 2024

Climate realities

THE Air Quality Index in Lahore once again shot past the 1,000-level mark on Wednesday morning, registering at an...
Rule by fear
08 Nov, 2024

Rule by fear

THE abduction of an opposition MNA, as claimed by PTI, is yet another grim episode in Pakistan’s ongoing crisis of...