Already a 20% owner of the private capital markets research and data provider company, Morningstar (NASDAQ:MORN) has agreed to buy the rest of PitchBook for about $180M, valuing the entire firm at $225M. PitchBook will continue to be led by founder and CEO John Gabbert, and Morningstar by Kunal Kapoor.
With the deal, leading providers of research on public and now private companies will be under one roof.
PitchBook had $31.1M in revenue in the 12 months ended June 30, and has over 300 employees located in Seattle, NYC, and London.
Morningstar (MORN +0.6%) has acquired RightPond (the d.b.a. of RequiSight LLC), a data provider for defined contribution and defined benefit plans for financial service providers.
Terms weren't disclosed. The product reveals gaps, trends, outliers, and risk signals regarding plan performance, fees, capital flow, gatekeeper relationships, and best practices for the various types of plans.
Morningstar will offer RightPond on a stand-alone basis until it's integrated into Morningstar Data and Morningstar Direct platforms and rebranded.