Morningstar Inc. said Friday it agreed to buy credit ratings agency Realpoint LLC in a cash and stock deal worth $52 million.
The acquisition, which includes $42 million in cash and $10 million in restricted stock, would boost Morningstar's position in the credit ratings market.
Morningstar, an investment research company, entered into the credit ratings business in December. The company publishes ratings on 150 of the largest U.S. companies.
Realpoint offers a variety of services for investors, including data to identify credit risk in commercial mortgage-backed securities. More than 225 investment firms subscribe to Realpoint's services. The company reported about $12 million in revenue last year.
The deal is expected to be completed in the next few months, Morningstar said.
Morningstar shares added 57 cents to close at $49.02.