Morningstar Inc. (MORN) announced that it has entered into a definitive agreement to acquire Logical Information Machines Inc. or LIM, a provider of data and analytics for the energy, financial, and agriculture sectors, for $51.5 million, subject to post-closing adjustments.
LIM had revenue of about $20 million for the last 12 months. The companies expect to complete the transaction this month, subject to customary closing conditions, which include approval by LIM's shareholders.
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