Morningstar, Inc. Completes Acquisition of Chicago-based Logical Information Machines, Inc.
December 31 2009 - 2:11PM
PR Newswire (US)
CHICAGO, Dec. 31 /PRNewswire-FirstCall/ -- Morningstar, Inc.
(NASDAQ: MORN), a leading provider of independent investment
research, has completed its previously announced acquisition of
Logical Information Machines, Inc. (LIM), a leading provider of
data and analytics for the energy, financial, and agriculture
sectors, for $51.5 million, subject to post-closing adjustments.
LIM provides market pricing data, securities reference data,
historical event data, predictive analytics, and advanced data
management solutions that help customers manage large sets of
time-series data. The company collects, unifies, and conducts
quality assurance on data from more than 180 providers in the
energy, financial, and agriculture sectors and provides clients
with one central source for data intelligence and analysis. 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
individuals, financial advisors, and institutions. Morningstar
provides data on more than 325,000 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 20 countries and minority ownership positions in companies based
in two other countries. Caution Concerning Forward-Looking
Statements This press release contains forward-looking statements
as that term is used in the Private Securities Litigation Reform
Act of 1995. These statements are based on our current expectations
about future events or future financial performance.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain, and often contain words such
as "may," "could," "expect," "intend," "plan," "seek,"
"anticipate," "believe," "estimate," "predict," "potential," or
"continue." These statements involve known and unknown risks and
uncertainties that may cause the events we discussed not to occur
or to differ significantly from what we expected. For us, these
risks and uncertainties include, among others, general industry
conditions and competition, including the global financial crisis
that began in 2007; the impact of market volatility on revenue from
asset-based fees; damage to our reputation resulting from claims
made about possible conflicts of interest; liability for any losses
that result from an actual or claimed breach of our fiduciary
duties; financial services industry consolidation; a prolonged
outage of our database and network facilities; challenges faced by
our non-U.S. operations; and the availability of free or low-cost
investment information. A more complete description of these risks
and uncertainties can be found in our filings with the SEC,
including our Annual Report on Form 10-K for the year ended
December 31, 2008. If any of these risks and uncertainties
materialize, our actual future results may vary significantly from
what we expected. We do not undertake to update our forward-looking
statements as a result of new information or future events. ©2009
Morningstar Inc. All rights reserved. MORN-C Contacts: Media:
Margaret Kirch Cohen, 312-696-6383 or Investors: Investors may
submit questions to or by fax to 312-696-6009. DATASOURCE:
Morningstar, Inc. CONTACT: Media, Margaret Kirch Cohen,
+1-312-696-6383, , or Investors, fax, +1-312-696-6009, , both of
Morningstar, Inc. Web Site: http://www.morningstar.com/
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