By Michael Susin
London Stock Exchange Group PLC said Monday that it has launched a 10-year partnership with Microsoft Corp. for next-generation data and analytics and cloud infrastructure solutions.
The stock-exchange and financial-information company said that the deal is expected to boost revenue growth meaningfully over time as new products come on-stream.
The company also forecasts an impact on its earnings before interest, taxes, depreciation and amortization margin of 50 to 100 basis points from 2023 to 2025.
As part of the partnership, Microsoft will buy around 4% of LSEG’s equity stake through the acquisition of shares from the Blackstone/Thomson Reuters Consortium.
“This strategic partnership is a significant milestone on LSEG’s journey towards becoming the leading global financial markets infrastructure and data business, and will transform the experience for our customers,” Chief Executive David Schwimmer said.
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(END) Dow Jones Newswires