Morningstar acquires Logical Information (data provider)

[Cate Long]

Morningstar Inc. (MORN) agreed to acquire Logical Information Machines
Inc. for $51.5 million in a move that will provide a new distribution
channel for the stock-market research provider.

The move follows Morningstar's recent announcement that it has begun
publishing credit ratings for nearly 100 of the largest U.S.
companies, with plans to expand to 1,000 companies.

Chairman and Chief Executive Joe Mansueto on Friday said Logical
Information Machines--which provides market pricing data and other
data-management services to traders in the energy, financial and
agricultural sectors--has a strong record of subscription-based
revenue and a large, stable client base.

"We serve many of the same financial services firms, but we're working
with different departments within those organizations," he added. "By
joining forces, we can offer our clients more robust services from one
provider."

Once the acquisition is completed, expected this month, Logical
Information Machines President and Chief Executive Anthony Kolton will
serve in an advisory role. Morningstar sales and business executive
Kishore Gangwani will be president at the Logical Information Machines
unit. He will report to Morningstar Chief Operating Officer Tao Huang.

http://online.wsj.com/article/BT-CO-20091211-706147.html

Cate's note >>>

Smart acquisition (although I haven't seen the financials)

There could be a substantial increase in the demand for data from the
energy, financial and agricultural sectors once the new derivatives
legislation is enacted...