Morningstar to buy data analysis firm for $51.5M

Morningstar Inc., a provider of investment research, said Friday it has agreed to buy Logical Information Machines Inc. for $51.5 million.
DEC 11, 2009
Morningstar Inc., a provider of investment research, said Friday it has agreed to buy Logical Information Machines Inc. for $51.5 million. Logical Information, founded in 1989, provides data and analysis to the energy, financial and agricultural sectors. It has about 80 employees in Austin, Houston, Chicago, New York and London. Logical Information CEO Tony Kolton will step down once the deal closes and become an adviser. Morningstar senior vice president Kishore Gangwani will become president of the Logical Information subsidiary. The deal is expected to close this month, pending approval from Logical Information shareholders. Shares of Morningstar, based in Chicago, rose 48 cents to $47.84 in midday trading.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.