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Morningstar, Inc. Acquires Tenfore Systems Limited

Dec 17, 2008

Morningstar, Inc. Acquires Tenfore Systems Limited

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Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced it has acquired M&A client, Tenfore Systems Limited, a global provider of real–time market data and financial data workstations based in the United Kingdom, for 13.5 million pounds sterling in cash, or approximately U.S.$21.0 million, subject to post–closing adjustments.

Tenfore collects data on global equities, commodities, derivatives, indexes, and foreign currencies from more than 160 sources and consolidates the data for real–time distribution to clients. The company also offers front–end software terminals that leverage the company’s market data, along with analytics and third–party application plug–ins.

Key benefits of the acquisition include:

  • Significantly broadens the scope, depth, and timeliness of Morningstar’s investment data. Morningstar will now offer real–time stock quotes from nearly all the world’s major stock exchanges.
  • Leverages Morningstar’s existing client base and geographic presence with the ability to offer a key data feed to institutions around the world.
  • Creates opportunity to serve a new, but related market; the company estimates that the global market for real–time data totals approximately $1 billion.
  • Supports Morningstar’s growth strategy to expand its international brand presence, products, and services. 
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