Morningstar Announces Completion of Realpoint Acquisition

""Morningstar, Inc."":http://corporate.morningstar.com/US/asp/home.aspx?xmlfile=202.xml&pgid=hetopcompsite, a Chicago-based provider of independent investment research, said Wednesday that it[IMAGE]

has completed the ""previously announced acquisition"":http://dsnews.comarticles/preview/ce9242d490b685264b4af5136d4d1b7c of Horsham, Pennsylvania-based ""Realpoint, LLC"":https://www.realpoint.com/RPLogin.aspx, a nationally recognized statistical ratings organization that specializes in structured finance.

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The purchase price consisted of approximately $42 million in cash, subject to post-closing adjustments, and approximately 199,000 shares of restricted stock valued at approximately $10 million at the time the acquisition was announced on March 19, 2010.

Realpoint, which had revenue of approximately $12 million in 2009, currently offers security ratings, research, surveillance services, and data to help institutional investors identify credit risk in commercial mortgage-backed securities (CMBS). According to the company, more than 225 institutional investment firms subscribe to its trust ratings and analytics, including the majority of investment managers who invest in CMBS.

As a result of this completed acquisition, Realpoint will become a business unit within Morningstar's equity and credit research business. And over time, the company will be rebranded under Morningstar.