Morningstar Australasia Completes Acquisition of Intech Pty Ltd From IOOF
June 30 2009 - 2:01AM
PR Newswire (US)
CHICAGO and SYDNEY, June 30 /PRNewswire-FirstCall/ -- Morningstar
Australasia Pty Limited, an Australian subsidiary of Morningstar,
Inc. (NASDAQ:MORN), today announced it has completed its previously
announced acquisition of Intech Pty Ltd, a leading provider of
multi-manager and investment portfolio solutions in Sydney,
Australia, from IOOF Transition 3 Pty Ltd., a subsidiary of IOOF
Holdings Limited (ASX:IFL). Terms were not disclosed. Founded in
1989, Intech advises some of Australia's major superannuation
funds, institutional clients, and investment platforms. Anthony
Serhan, formerly head of research for Morningstar in Australia, has
been appointed managing director of Intech Pty Ltd. About
Morningstar, Inc. Morningstar, Inc. is a leading provider of
independent investment research in North America, Europe,
Australia, and Asia. The company offers an extensive line of
Internet, software, and print-based products and services for
approximately 6.5 million individual investors, 260,000 financial
advisors, and 3,300 institutional clients. Morningstar provides
data on more than 300,000 investment offerings, including stocks,
mutual funds, and similar vehicles, along with real-time global
market data on more than 4 million equities, indexes, futures,
options, commodities, and precious metals, in addition to foreign
exchange and Treasury markets. The company has operations in 19
countries and minority ownership positions in companies based in
three other countries. Morningstar established its operations in
Australia in 1999. The company's products and services include a
local version of Advisor Workstation, the Morningstar.com.au Web
site for retail investors, stock research software, trade magazines
and newsletters, widely distributed fund and share datafeeds, and
investment consulting services. In 2006, Morningstar acquired
Aspect Huntley Pty Limited, a leading provider of equity
information, research, and financial trade publishing in Australia.
(C)2009 Morningstar Inc. All rights reserved. Media Contacts:
Morningstar Margaret Kirch Cohen, 312-696-6383, Phillip Gray, +61 2
9276 4456, Intech Pty Ltd Kate Hage, +61 2 8022 2864, DATASOURCE:
Morningstar, Inc. CONTACT: Margaret Kirch Cohen, +1-312-696-6383, ,
or Phillip Gray, +61 2 9276 4456, , both of Morningstar; or Kate
Hage of Intech Pty Ltd, +61 2 8022 2864, Web Site:
http://www.morningstar.com/
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