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Morningstar, Inc. Completes Acquisition of HelloWallet Holdings, Inc.

Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has completed its previously announced acquisition of HelloWallet Holdings, Inc., a leading provider of online financial wellness, for $52.5 million. Morningstar paid $39.0 million because it had a minority stake in the company valued at $13.5 million.

Founded in 2009, HelloWallet combines behavioral economics and the psychology of decision-making with sophisticated technology to provide personalized, unbiased financial guidance to more than 1 million U.S. workers and their families through their employer benefit plans. The company has a loyal and committed client base of retirement plan sponsors as well as key relationships with leading retirement plan providers. This acquisition brings together HelloWallet’s comprehensive financial wellness expertise with Morningstar’s independent, research-based retirement advice to create a holistic retirement savings and advice offering. HelloWallet has about 50 employees in Washington, D.C.