Microsoft taking 4% stake in London Stock Exchange

Microsoft is taking a roughly 4% stake in the operator of the London Stock Exchange, which has agreed to spend at least $2.8 billion in cloud-computing services from the technology giant. That spending commitment will be spread out over 10 years, according to the terms of the deal announced Sunday by Microsoft. The London Stock Exchange Group, or LSEG, is aiming to upgrade its current data infrastructure and analytics capabilities. That will involve migrating LSEG’s data platform and other technology into Azure, Microsoft’s cloud computing platform. The deal is the latest involving a stock exchange shifting its technology infrastructure to the cloud.