This excerpt taken from the MORN 8-K filed Jan 4, 2008.
Could you help us understand how Hemscotts IR [investor relations] business fits into MORNs business model? How big is this in terms of revenues in the acquired company?
Hemscotts investor relations business makes up about a third of the overall revenue of the businesses were acquiring from Hemscott.
We view the investor relations business as a logical fit with Morningstars stated goal of helping investors make better investing decisions. We currently provide data and analytics for investor relations professionals through our Morningstar Direct platform and believe our comprehensive global ownership data is particularly useful to this segment. The Hemscott acquisition will allow us to develop a broader portfolio of offerings to help investor relations officers serve their shareholders. In addition, the Hemscott investor relations business leverages our equity data and expertise in Web site development and design.