Morningstar Inc. is acquiring investment advisory firm mPower.com. The all-cash deal should be completed by June 30, said Joe Mansueto, Morningstar chairman and CEO. He would not elaborate on the terms of the acquisition.
John Rekenthaler, president of investment advisory subsidiary Morningstar Associates, will manage the combined businesses. Andrew Huddart, mPower president and CEO, is expected to remain during the transition, said Margaret Kirch Cohen, Morningstar spokeswoman. Most of mPower’s employees are expected to be retained.