Morningstar Acquires Minority Equity Stake in Inquiry Financial, Provider of Sell-Side Consensus Estimate Data

Morningstar Acquires Minority Equity Stake in Inquiry Financial, Provider of Sell-Side Consensus Estimate Data PR Newswire CHICAGO, Oct. 1, 2012 CHICAGO, Oct. 1, 2012 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has acquired a 34% equity stake in Inquiry Financial Europe AB based in Bromma, Sweden. Inquiry Financial offers granular, company-specific consensus estimates drawn directly from analysts' research, such as divisional breakdowns of forecast sales and units shipped, to mirror the analysts' models. Terms were not disclosed. "What sets Inquiry Financial apart is that it digs deep into sell-side analyst research reports to produce earnings estimates that are more detailed than traditional consensus estimates. Inquiry Financial's comprehensive data helps financial professionals as well as investor relations experts keep their fingers on the pulse of the market and make more informed projections about a company's future performance," Kunal Kapoor, president of Morningstar's Data division, said. "We see this as a strong complement to Morningstar's earnings estimate business. Our investment in Inquiry Financial will allow us to expand both the depth and breadth of our global earnings estimate data coverage." Founded in 2004, Inquiry Financial serves investor relations officers, portfolio managers, brokers, and analysts through data feeds, custom web-based modules, and its premier web site, ConsensusEstimates.com.