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HelloWallet Holdings Set to be Acquired by Morningstar Inc. for $52.5 Million

On 29th May 2014, leading provider of independent investment research – Morningstar Inc – announced that entered into a definitive agreement to acquire HelloWallet Holdingsfor an sum of $52.5 Mn. When the transaction is completed in the coming days, Morningstar will pay $39.0 Mn since it currently has a minority stake in the company valued at $13.5 Mn.

Morningstar, via its advisory subsidiaries, is the largest provider of managed retirement accounts by participants served, with almost 1 Mn individuals enrolled. This acquisition will bring together HelloWallet's comprehensive financial wellness expertise with Morningstar's independent, research-based retirement advice to create a holistic retirement savings ...

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