On the Record · Morningstar
Morningstar acquisitions, on the record
The businesses Morningstar bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
LCD (Leveraged Commentary & Data)Word for word“PitchBook t otal revenue increased $101.2 million, or 22.5%, in 2023, which included positive contributions from the acquisition of LCD which closed June 1, 2022.” 10-K for 2023 | acquisition | closed June 1, 2022 | — |
Praemium Portfolio Services Limited (Praemium)Word for word“In 2022, the company successfully closed the Praemium acquisition, which expanded its wealth management capabilities outside the U.S.” 10-K for 2023 | acquisition | 2022 | — |
noneWord for word“We had no divestitures in 2023, 2022, or 2021.” 10-K for 2023 | divestiture | 2023 | — |
Commodity and Energy Data businessWord for word“Effective September 30, 2024, we sold our Commodity and Energy Data business within the Morningstar Data and Analytics segment for a purchase price of $52.4 million.” 10-K for 2024 | divestiture | Effective September 30, 2024 | $52.4 million |
US TAMP assets (sale of customer assets to AssetMark)Word for word“We will exclude revenue related to our Commodity and Energy Data business, which we divested in the third quarter of 2024 , as well as revenue and interim service fees associated with the sale of customer assets from the US Morningstar Wealth Turnkey Asset Management Platform (TAMP) to AssetMark (sale of US TAMP assets), which we divested in the f ourth quarter of 2024, from our organic revenue growth calculation for a period of 12 months after we complete the divestitures.” 10-K for 2024 | divestiture | — | — |
Lumonic Inc. (Lumonic)Word for word“In 2025, PitchBook expanded its private credit capabilities through the acquisition of Lumonic Inc. (Lumonic), a portfolio monitoring and management solution built for institutional investors.” 10-K for 2025 | acquisition | In 2025 | — |
Dealview Technologies Limited (DealX)Word for word“MCA completed its acquisition of Dealview Technologies Limited (DealX), a provider of standardized US CMBS and global CLO data in March 2025.” 10-K for 2025 | acquisition | March 2025 | — |
Center for Research in Security Prices (CRSP)Word for word“On February 2, 2026, Morningstar completed its acquisition of the Center for Research in Security Prices, or CRSP, from the University of Chicago.” 10-K for 2025 | acquisition | February 2, 2026 | — |
CRSPWord for word“On February 2, 2026, we completed our previously announced acquisition of CRSP for a closing cash payment of approximately $365.0 million, subject to customary adjustments.” 10-K for 2025 | acquisition | On February 2, 2026 | approximately $365.0 million |
customer assets from the US Morningstar Wealth Turnkey Asset Management Platform (TAMP) to AssetMarkWord for word“We recorded a $22.7 million gain in 2025 from the contingent payment related to the sale of customer assets from the US Morningstar Wealth Turnkey Asset Management Platform (TAMP) to AssetMark (sale of US TAMP assets), compared to a $64.0 million gain in 2024.” 10-K for 2025 | divestiture | 2025 | $22.7 million |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Cash received from selling businesses | Goodwill from acquisitions |
|---|---|---|---|
| 2016-12-31 | $191.6 million | $0 | — |
| 2017-12-31 | $1 million | $0 | — |
| 2018-12-31 | $400,000 | $10.5 million | — |
| 2019-12-31 | $681.9 million | $0 | $473.3 million |
| 2020-12-31 | $67.8 million | $0 | $134.7 million |
| 2021-12-31 | $24.8 million | — | $14.9 million |
| 2022-12-31 | $646.7 million | — | — |
| 2023-12-31 | $800,000 | — | — |
| 2024-12-31 | $0 | — | — |
| 2025-12-31 | $39 million | — | — |
Deal filings since 2016
- 2025-10-31 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-05-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-04-04 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-10-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-07-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-07-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-07-03 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2019-06-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-12-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-11-08 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from Morningstar’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-13. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.