Even as the markets and economy shake, Morningstar
is still acquiring. On Thursday the Chicago-based fund ratings firm unveiled its $12.5 million purchase of 10-K Wizard
, a specialized financial research firm that utilizes the SEC
"The acquisition of 10-K Wizard aligns with our goal of bringing greater transparency to equity investments," stated Morningstar data services president Liz Kirscher
, praising 10-K as "a well-respected resource for financial research.
Dallas-based 10-K boast about 25 employees. Morningstar spokeswoman Alexa Auerbach confirmed that they "hope to retain of the employees" at 10-K and that 10-K CEO Martin Zacarias
has agreed to stay on. Zacarias will report to Guoping Dai
, head of global equity data business.
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