Morningstar, Inc., the Chicago-based provider of independent investment research, said Friday it has entered into a definitive agreement to acquire Logical Information Machines, Inc. (LIM), a leading provider of data and analytics to the financial sector, for $51.5 million, subject to post-closing adjustments.
LIM's clients include some of the world's largest asset managers, banks, risk managers and commodities trading firms. LIM provides market pricing data, securities reference data, historical event data, predictive analytics, and advanced data management solutions to help manage large sets of time-series data. The company collects, unifies, and conducts quality assurance on data from more than 180 providers, and provides clients with one central source for data intelligence and analysis. "LIM has been in the data management and aggregation business for 20 years and has developed a proprietary time-series database technology that serves as an essential hub for trading desks and risk managers at many Fortune 500 companies,” said Joe Mansueto, chairman and CEO of Morningstar. “LIM's solutions are deeply integrated with its clients' platforms, which make them invaluable to customers. We were attracted to LIM because it complements our core data and software businesses and provides a new distribution channel for Morningstar.”
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