NU Online News Service, Jan. 11, 2005, 4:55 p.m. EST
A mutual fund data giant is paying about $9 million for a leading source of variable annuity data.[@@]
The fund data company, Morningstar Inc., says it bought the Variable Annuity Research and Data Service, Atlanta, from Finetre Corp., Herndon, Va., Friday.
The final price Morningstar pays for VARDS is “subject to an adjustment for working capital,” Morningstar says.