Australian Analyst Acquired

Research and ratings supplier Morningstar has bought Aspect Huntley, the Sydney, Aus-based market and financial research group and owner of the publications IFA and Investor Weekly, for $AUS 30 million ($US 22 million).

Morningstar expects to complete the transaction this month. Aspect Huntley had revenue of $8.2 million for the 2005 financial year and for the 11 months ending 31 May 2006 reportedly made $10.8 million in revenue, including $1.4 million from recently acquired InvestorInfo.

In an official statement, Aspect Huntley MD Andrew Bird and Chairman Ian Huntley said the deal was the 'next logical step' in expanding the research capabilities of the two businesses. The statement explains, 'As part of a global company with operations in 13 countries, we will be able to introduce Australian investors to a broader array of overseas investment information and research.'

Morningstar Chairman and CEO Joe Mansueto believes the acquisition will expand the quality of his company's service and allow Australian investors to single-source their research. He comments: 'The key benefit of this acquisition is the combination of Morningstar's expertise in fund research and information and Aspect Huntley's equity research, information and financial media expertise in Australia.'

Huntley, Bird and Non-executive Director Tony Young will all continue in their current capacities.

The firms are online at www.aspecthuntley.com.au and www.morningstar.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.