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