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
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
“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
The companies expect to complete the deal in early January.