Morningstar Inc. has completed its $42 million acquisition of Realpoint LLC, a Nationally Recognized Statistical Ratings Organization (NRSRO) that specializes in structured finance.

The Horsham, Penn.-based firm offers securities ratings, research, surveillance services and data on commercial mortgage-backed securities. Realpoint has approximately 225 institutional investor subscribers, the majority of whom are invested in mortgage-backed securities.

Realpoint will become a business unit of Morningstar's equity and credit research arm, and will eventually be rebranded under the Morningstar name.

The deal was first announced on March 19.