Morningstar Australasia to Acquire Intech Pty Ltd, a leading provider of multi-manager and investment portfolio solutions in Sydney, from IOOF

Morningstar Australasia to Acquire Intech Pty Ltd, a leading provider of multi-manager and investment portfolio solutions in Sydney, from IOOF. The companies expect to complete the transaction during the next few months, subject to satisfaction of customary closing conditions. Terms were not disclosed.

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Morningstar Australasia Pty Limited, an Australian subsidiary of Morningstar, Inc. (NASDAQ: MORN), has entered into a definitive agreement to acquire Intech Pty Ltd, a leading provider of multi-manager and investment portfolio solutions in Sydney, Australia, from IOOF Transition 3 Pty Ltd., a subsidiary of IOOF Holdings Limited (ASX:IFL). The companies expect to complete the transaction during the next few months, subject to satisfaction of customary closing conditions. Terms were not disclosed.

Founded in 1989, Intech advises some of Australia’s major superannuation funds, institutional clients, and investment platforms. Through the Intech Investment Trusts, Intech manages a range of single sector, alternative strategy, and diversified investment portfolios. As of March 31, 2009, Intech had approximately A$4 billion (approximately U.S.$3.2 billion) in assets under management. Intech also has one of the leading separately managed account databases in Australia and offers the Intech Desktop Consultant, a research software product for institutions.

IOOF, with its registered office in Melbourne, acquired the Skandia Australia and Intech businesses from OM Group (UK) Limited (Old Mutual) in March 2009. The IOOF and Australian Wealth Management businesses merged in April 2009.

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