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Rating:Morningstar to Buy Australian Financial Info Firm Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 10, 2006

Morningstar to Buy Australian Financial Info Firm

by: Marie Glancy

Morningstar expects to complete its purchase of an Australia-based information, research, and financial trade publishing firm this month.

The U.S. mutual fund tracking firm announced last week that it's agreed to buy Aspect Huntley for 30 million Australian dollars, or about US$22 million, in cash. Aspect Huntley employs 65 people in Australia and Thailand.

Morningstar CEO Joe Mansueto said the acquisition is part of Morningstar's international expansion, one of its growth strategies. The company already has operations in 13 countries and a presence down under, with 34 employees in Australia and New Zealand.  

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