Morningstar, based in Chicago, is well on the road to conglomerate. The company announced yet another acquisition, closing on the purchase of Realpoint, LLC, a Nationally Recognized Statistical Ratings Organization (NRSRO) that specializes in structured finance.
The purchase price consists 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 March 19, 2010.
Realpoint had revenue of approximately $12 million in 2009.
