UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

 
FORM 8-K

 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  September 27, 2012
 
MORNINGSTAR, INC.
(Exact name of registrant as specified in its charter)

Illinois	 	000-51280	 	36-3297908	
(State or other jurisdiction
of incorporation)	 	(Commission
File Number)	 	(I.R.S. Employer
Identification No.)	

22 West Washington Street
Chicago, Illinois 
(Address of principal executive offices)	 	60602
(Zip Code)	
 
(312) 696-6000
(Registrant’s telephone number, including area code)
 
N/A
(Former name or former address, if changed since last report)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o             Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o             Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o             Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

 

 
Item 8.01.  Other Events.
 
On September 27, 2012, Morningstar Australasia Pty Limited, a subsidiary of Morningstar, Inc., issued a press release announcing that it has entered into an agreement for Sterling Publishing Pty Ltd to acquire Morningstar’s Australian financial services trade publishing business.  A copy of the press release is filed as Exhibit 99.1 to this Form 8-K.
 
On September 28, 2012, Morningstar, Inc. issued a press release announcing that its Board of Directors has approved a quarterly cash dividend of 10 cents per share payable October 31, 2012 to shareholders of record as of October 12, 2012.  A copy of the press release is filed as Exhibit 99.2 to this Form 8-K.
 
On October 1, 2012, Morningstar, Inc. issued a press release announcing that Morningstar has acquired a 34% equity stake in Inquiry Financial Europe AB based in Bromma, Sweden.  A copy of the press release is filed as Exhibit 99.3 to this Form 8-K.
 
On October 1, 2012, Morningstar, Inc. issued a press release announcing that it has entered into an agreement to sell its investor relations business to UK-based Investis, a leading specialist in digital corporate communications for public companies.  A copy of the press release is filed as Exhibit 99.4 to this Form 8-K.
 
Item 9.01.  Financial Statements and Exhibits.
 
(d)            Exhibits:

Exhibit No.	 	Description	
 	 	 	
99.1	 	Press Release dated September 27, 2012 regarding Sterling Publishing Pty Ltd.	
 	 	 	
99.2	 	Press Release dated September 28, 2012 regarding quarterly dividend.	
 	 	 	
99.3	 	Press Release dated October 1, 2012 regarding Inquiry Financial Europe AB.	
 	 	 	
99.4	 	Press Release dated October 1, 2012 regarding Ivestis.	
 
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SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	 	MORNINGSTAR, INC.	

Date: October 1, 2012	 	By:	/s/ Richard E. Robbins	
 	 	Name:	Richard E. Robbins	
 	 	Title:	General Counsel and Corporate Secretary	
 
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Exhibit 99.1

		
 
FOR IMMEDIATE RELEASE
 
Sterling Publishing to acquire Morningstar Australasia trade publishing assets
 
Sydney, 27 September, 2012 : Sterling Publishing Pty Ltd (Sterling) and Morningstar Australasia Pty Limited, a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced that they have entered into an agreement for Sterling to acquire Morningstar’s Australian financial services trade publishing business.
 
The acquisition of the titles, which include InvestorDaily ,  Independent Financial Adviser ( IFA ) — incorporating SMSF — and Investor Weekly reaffirms Sterling’s position as one of Australia’s fastest-growing publishing companies and complements its current suite of publishing assets.
 
The companies expect to complete the transaction in early October 2012, subject to the satisfaction of customary closing conditions. Terms and conditions of the transaction were not disclosed.
 
InvestorDaily has delivered financial news since July 2000 to an online audience now in excess of 50,000 each month, and is widely-regarded as a leading title in a highly-competitive space.
 
IFA was one of the first trade magazines for the financial planning industry, and over 13 years has built an unrivalled reputation for analysis and insight into a rapidly-evolving industry.
 
As well as the online and print titles, Sterling will also acquire a number of established events for the financial planning and institutional investment sectors, including the annual Wraps, Platforms & Masterfunds Conference and the annual Self-Managed Superannuation Fund Strategy Day.
 
According to Sterling group publisher Alex Whitlock, the new titles align perfectly with the company’s existing products for the mortgage lending and finance broking industry.
 
“Over the last few years we have seen the beginnings of a convergence between financial planning and mortgage broking and this looks set to gather pace in the future.
 
“Regulation for mortgage brokers came into effect last year and this has advanced the professionalism of the industry. Licensed brokers are now increasingly branching into financial planning while planners are also looking to

 
strengthen their own service proposition, with the addition of mortgages and other debt products.
 
“We’re recognised for our ability to combine traditional print with evolving digital publishing platforms to build engaged readerships. The acquisition of these titles will create a wider network of interconnected financial professionals, adding significant value to both readers and advertisers.”
 
Sterling’s titles include The Adviser , a business magazine for mortgage and finance brokers, Real Estate Business , a business magazine for the real estate industry, and Smart Property Investment, a consumer magazine for property investors and home buyers.
 
Morningstar Australasia Chief Executive Officer Anthony Serhan said: “We’ve made a strategic decision to streamline our product line and focus on our core research, software, data, and investment management businesses.
 
“The trade publishing business provides incisive, high-quality, and timely coverage of Australia’s financial services industry. We believe Sterling Publishing is well-positioned to grow and develop the business,” Serhan said.
 
NOTE TO EDITORS
 
About Sterling Publishing
 
Sterling Publishing (www.sterlingpublishing.com.au), the publishing arm of the BRW Fast 100-ranked Momentum Media, is a growing media company focusing on the finance, mortgage, real estate and property sectors. Its products span traditional print as well as interactive new media channels, with a range of distribution platforms used to connect and engage readers, including magazines, websites, events, Apple iPad® apps, social networking and broadcasting.
 
About Morningstar Australasia Pty Limited and Morningstar, Inc.
 
Morningstar Australasia Pty Limited is a subsidiary of Morningstar, Inc., a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisers, and institutions. Morningstar provides data on more than 385,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than eight million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment adviser subsidiaries and had more than US$186.0 billion in assets under advisement and management at 30 June 2012. The company has operations in 27 countries.

 
CONTACTS

Kate Miller
Communications Manager
Sterling Publishing
+61 2 9922 3300
kate@sterlingpublishing.com.au	 	Phillip Gray
Editorial & Communications Manager
Morningstar Australasia
+61 2 9276 4456
phillip.gray@morningstar.com	

Exhibit 99.2

	

 
Media Contact:
 
Margaret Kirch Cohen, 312-696-6383 or margaret.cohen@morningstar.com
 
FOR IMMEDIATE RELEASE
 
Morningstar, Inc. Declares Regular Quarterly Dividend of 10 Cents Per Share
 
CHICAGO, Sept. 28, 2012—The board of directors of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today declared a quarterly dividend of 10 cents per share. The dividend is payable Oct. 31, 2012 to shareholders of record as of Oct. 12, 2012.
 
About Morningstar, Inc.
 
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 385,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 8 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and has more than $186 billion in assets under advisement and management as of June 30, 2012. The company has operations in 27 countries.
 
# # #
 
©2012 Morningstar, Inc. All Rights Reserved.
 
MORN-C
 
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Exhibit 99.3

	

 
Media Contact:
 
Alexa Auerbach, 312-696-6481 or alexa.auerbach@morningstar.com
 
FOR IMMEDIATE RELEASE
 
Morningstar Acquires Minority Equity Stake in Inquiry Financial, Provider of Sell-Side Consensus Estimate Data
 
CHICAGO, Oct. 1, 2012—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. The company collects data directly from sell-side analysts or via analyst research notes to help ensure data quality. Beyond detailed profit and loss consensus data, Inquiry Financial also compiles sell-side analyst comments on non-recurring items, divisional breakdowns of forecast sales and units shipped, and sector-specific data such as net interest income, total costs, and provisions for banks.
 
“We share a common goal with Morningstar, which is to provide high-quality, comprehensive investment information to the market,” Stefan Hultin, CEO and co-founder of Inquiry Financial, said. “We are pleased
 
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that Morningstar has taken an equity stake in our company. It is a testament to the quality of work we deliver and we look forward to leveraging Morningstar’s expertise in data collection, aggregation, and distribution to help us continue to grow our business. Morningstar also has strong relationships with money managers and buy-side analysts that will help us broaden our reach in those markets.”
 
Morningstar provides consensus earnings estimates on more than 16,000 different share classes from more than 70 different exchange countries. Over time, Morningstar plans to make Inquiry Financial’s detailed earnings estimate data available across its major product lines, including Morningstar.com, Morningstar Direct SM , and Morningstar Data.
 
About Morningstar, Inc.
 
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 385,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 8 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and has more than $186 billion in assets under advisement and management as of June 30, 2012. The company has operations in 27 countries.
 
About Inquiry Financial
 
Inquiry Financial is a Sweden-based independent financial information company. It provides detailed, comparable, and updated financial information to media, sell-side, buy-side, and investor relations professionals in Europe. For more information, visit www.inquiry.se.
 
# # #
 
©2012 Morningstar, Inc.  All rights reserved.
 
MORN-C
 
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Exhibit 99.4

	

 
Media Contact:
 
Alexa Auerbach, 312-696-6481 or alexa.auerbach@morningstar.com
 
FOR IMMEDIATE RELEASE
 
Morningstar to Sell Investor Relations Business to Investis
 
CHICAGO, Oct. 1, 2012—Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, has entered into a definitive agreement to sell its investor relations business to UK-based Investis, a leading specialist in digital corporate communications for public companies. Morningstar expects to complete the transaction in October, subject to customary closing conditions. Terms were not disclosed.
 
The Investor Relations Services business designs, builds, hosts, and maintains investor relations pages and corporate web sites for more than 550 companies.
 
“We’ve made a strategic decision to streamline and simplify our product line and focus on our core offerings,” said Joe Mansueto, chairman and chief executive officer of Morningstar. “We acquired the investor relations business in 2008 as part of our acquisition of certain Hemscott businesses. Although the investor relations team has done a terrific job, this business is not core to our data, research, or investment management offerings. Investis works with more than 1,000 companies in 30 countries, including more than half of the FTSE100. It has the expertise and industry reach to continue to expand the investor relations business.”
 
“Investis has a reputation for innovation in the investor relations services market, with an international footprint and best-in-class products,” said Helen James, CEO. “We look forward to welcoming the Morningstar investor relations services clients to Investis in the coming weeks.”
 
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The investor relations business that Investis is acquiring has approximately 18 employees in London and 19 employees in New Delhi.
 
About Morningstar, Inc.
 
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 385,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 8 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and has more than $186 billion in assets under advisement and management as of June 30, 2012. The company has operations in 27 countries.
 
About Investis
 
Investis is Europe’s leading specialist in digital corporate communications for public companies. Our services include corporate websites, social media solutions, apps and mobile sites, video and webcasting, website tools and integrated online reporting.
 
Investis works with over 1,000 companies in 30 countries, from the smallest companies to the largest, including more than 50% of the FTSE100. The company has offices in the UK, Germany, Italy, Finland and India.
 
Caution Concerning Forward-Looking Statements
 
This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue.” These statements involve known and unknown risks and uncertainties that may cause the events we discussed not to occur or to differ significantly from what we expected. For us, these risks and uncertainties include, among others, general industry conditions and competition, including current global financial uncertainty; the impact of market volatility on revenue from asset-based fees; damage to our reputation resulting from claims made about possible conflicts of interest; liability for any losses that result from an actual or claimed breach of our fiduciary duties; financial services industry consolidation; liability related to the storage of personal information about our users; a prolonged outage of our database and network facilities; challenges faced by our non-U.S. operations; and the availability of free or low-cost investment information. A more complete description of these risks and uncertainties can be found in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2011. If any of these risks and uncertainties materialize, our actual future results may vary significantly from what we expected. We do not undertake to update our forward-looking statements as a result of new information or future events.
 
###

©2012 Morningstar, Inc. All Rights Reserved.
 
MORN-C
 
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