Investment research provider Morningstar Inc. is in the final stages of purchasing Hemscott data, media and investor relations website businesses from Ipreo Holdings for an estimated cost of $51.6 million.

“Hemscott is a well-known brand with a large and loyal client base,” said Joe Mansueto, chairman and CEO of Morningstar. “This acquisition fits with our strategies of building a premier global equity database and expanding our presence outside the United States .”

The acquisition will significantly strengthen Morningstar’s equity coverage, Mansueto said.

As part of the agreement, Morningstar will acquire Hemscott Data, Hemscott Guru, Hemscott Adviser Rankings Guide, Hemscott India , Hemscott.com, Hemscott Premium and Premium Plus, and Hemscott IR.

“In addition to its data on a greater number of stocks, Hemscott has decades more data history, as well as management and director information, for U.S., UK , and Canadian stocks,” Mansueto said. “Another crucial component of this acquisition is Hemscott’s sizable data operation in India , where we’ve been interested in establishing a presence for some time.”

The companies expect to complete the deal in early January.

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