Morningstar, Inc. is a provider of independent investment research to investors worldwide. It operates in two segments: Investment Information and Investment Management. Through the Company’s Investment Information segment, it offers a range of data, software and research products for individual investors, financial advisors, and institutional clients. It also provides asset management services for advisors, institutions, and retirement plan participants through its Investment Management segment. In addition to its the United States-based products and services, it offers local versions of its products for investors in Asia, Australia, Canada, Europe, Latin America and South Africa. As of December 31, 2011, the Company served approximately eight million individual investors, 250,000 financial advisors, and 4,500 institutional clients. In November 2011, the Company acquired 20% interest in YCharts, Inc. In January 2012, the Company acquired 15% interest in HelloWallet LLC. For the three months ended 31 March 2011, Morningstar Inc.’s revenues increased 18% to $151.8M. Net income increased 12% to $22.5M. Revenues reflects an increase in income from investment information & higher income from investment management activity. Net income was partially offset by higher development cost, increase in sales & marketing expenses and higher general & administrative expenses. Source: Reuters