Standard & Poor’s announced Thursday it is selling its mutual fund data business to Morningstar for $55 million in cash so that it can focus on its core analytical services, which includes fund management ratings and research.

The business S&P is selling to Morningstar covers individual fund performance data on more than 135,000 funds in more than 30 countries, including desktop applications and data feeds. As part of the deal, S&P will license Morningstar data that it can use in its ratings and research products.

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