Business
Morningstar Acquires Moorgate Benchmarks to Fuel Indexing Growth and Disruption
Acquisition enhances Morningstar's ability to provide customized, personalized index solutions and underscores global expansion, particularly in Europe.
About this update from Morningstar, Inc.
[{"type":"text","content":"Acquisition enhances Morningstar's ability to provide customized, personalized index solutions and underscores global expansion, particularly in Europe.\n\n\nCHICAGO, Sept. 8, 2021 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced the acquisition of Moorgate Benchmarks, a privately held European-based global provider of index design, calculation, and administration. ETFS Capital provided seed funding to Moorgate Benchmarks in 2019 and had been its sole external investor. With this transaction, Moorgate Benchmarks becomes a wholly owned subsidiary of Morningstar. Financial terms were not disclosed. \nPairing Moorgate Benchmarks' advanced index design, calculation and administration technology and processes with Morningstar's data, research, and unique Morningstar-led index intellectual property will give investors more customized and personalized indexes, delivered faster. Moorgate's respected executive team, talented employee base, advanced technology, and intellectual property are now part of the Morningstar Indexes team. \n\"The index industry today needs disruption, with a number of entrenched players who aren't providing enough value and innovation to investors for the fees they charge. Moorgate Benchmarks' advanced technology, index calculation process, and strong reputation in Europe will help us address this issue head on,\" said Ron Bundy, president of Morningstar Indexes. \"The capabilities that Moorgate Benchmarks brings will help accelerate our goal of becoming a leading global index provider by providing more value to the end investor.\" \nMoorgate Benchmarks' 20 employees, based in the UK and Germany, will immediately become part of Morningstar Indexes. In addition to his role as Moorgate Benchmarks chief executive officer, Tobias Sproehnle will become head of Morningstar Indexes in Europe, reporting to Ron Bundy. The additional members of the Moorgate Benchmarks executive team – Gareth Parker and Mark Pralle, will join the Morningstar Indexes leadership team and report to Sproehnle. \n\"It's exciting to be joining forces with Morningstar, a firm which brings incredible access to data, enormous global market insights, and a strong reputation for doing right by investors,\" said Sproehnle. \"We have already built a strong rapport and respect for t...