Morningstar to Acquire S&P's Mutual Fund Data Business

Morningstar, Inc. and Standard and Poor’s, a division of The McGraw-Hill Companies, have entered into a definitive agreement for Morningstar to acquire Standard and Poor’s mutual fund data business for $55 million in cash. S&P’s fund data business consists of data and products covering more than 135,000 managed investment vehicles, including mutual funds, exchange-traded funds (ETFs), hedge funds, and offshore funds. Under terms of the agreement, Standard and Poor’s will license fund data from Morningstar after the acquisition is completed. The companies expect to complete the transaction in March, subject to customary closing conditions.