July 26, 2006
Hedge fund database InvestorForce to be bought over by Morningstar
In a deal that will create the largest and most comprehensive investment databases available, Morningstar plans to take over the institutional hedge fund database of InvestorForce, a US-based financial software company. Morningstar is expected to pay up to $10 million for the new database, which is used by pension consultants among others in managing clients' investments. Bobsguide.com reports:
The transaction will net Morningstar more than 450 customers in the form of institutional consultants, private and institutional investors and asset managers.
Read more: Morningstar to buy hedge fund database
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