Morningstar, a leading investment research provider and Standard and Poor’s, a division of The McGraw-Hill Companies, have entered into an agreement for Morningstar to acquire S&P’s mutual fund data business for $55 million. The press release states S&P’s fund data business consists of data and products covering more than 135,000 managed investment vehicles including mutual funds, ETFs, hedge funds, and offshore funds. The transaction will be complete possibly by March. This acquisition will boost Morningstar’s presence in Europe and Asia, as well as worldwide, by having a comprehensive investment data and research solution from a single provider.
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