Today Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced it has entered into a definitive agreement to acquire our client 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 had revenue of approximately $20 million for the last 12 months. The companies expect to complete the transaction this month, subject to customary closing conditions, which include approval by LIM’s shareholders.
LIM is a pioneer in providing 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. Clients also have the flexibility to use LIM’s tools for analyzing their own proprietary data, which they may have been collecting for years.