December 12, 2005
Business News: Morningstar to Acquire Ibbotson
CHICAGO (AP) -- Morningstar Inc., the mutual-fund and stock research company, has agreed to buy financial consulting firm Ibbotson Associates for $83 million, the two companies announced Monday.
Privately held Ibbotson, which like Morningstar is based in Chicago, provides asset allocation and fund research to institutions and manages 401(k) and other defined contribution plans. It had $37 million in revenue for its 2005 fiscal year, making it about a quarter the size of Morningstar.
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Posted by Becky at December 12, 2005 2:55 PM Posted to Investments/Finance