CHICAGO, Nov. 1, 2010 - Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, has completed its previously announced acquisition of the annuity intelligence business of Advanced Sales and Marketing Corp. based in Oakbrook Terrace, Ill. (ASMC) for $14.1 million, subject to post-closing adjustments.
ASMC's annuity intelligence business includes the Annuity Intelligence Report (AI Report), a web-based service that leverages a proprietary database of more than 1,000 variable annuities to help broker-dealers, insurers, and other financial professionals better understand and more effectively present variable annuity products to their clients. The annuity intelligence business serves 170 firms, and more than 150,000 financial advisors have access to the AI Report through these firms.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 370,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 26 countries.
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SOURCE Morningstar, Inc.
Web Site: www.morningstar.com