The early bird gets the worm, Morningstar (NASDAQ: MORN) to acquire CRSP for $375 million from University of Chicago

Morningstar Inc. (NASDAQ: MORN) announced it has entered into an agreement to acquire the Center for Research in Security Prices (CRSP) from the University of Chicago for $375 million.

CRSP provides historical stock market data and indexes that serve as benchmarks for more than $3 trillion in US equities. The acquisition includes CRSP Market Indexes, which are tracked by several Vanguard funds including the Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund.

Founded in 1960 at the University of Chicago, CRSP generates approximately $55 million in annual revenue. The organization developed the first market database to help investors measure historical rates of return for US stocks and provides data to investors, academics, and regulatory authorities.

“By bringing CRSP’s trusted data validation processes and robust indexing methodologies into our fold, we’re reinforcing our commitment to offering high-quality, data-driven tools that empower investors to make smarter decisions,” said Kunal Kapoor, chief executive officer of Morningstar.

The CRSP team will join Morningstar Indexes upon completion of the transaction. The deal is expected to close in the fourth quarter of 2025, subject to customary closing conditions including regulatory approval.

Madhav Rajan, dean of the University of Chicago Booth School of Business and chair of CRSP’s Board of Directors, said Morningstar brings the business insights and capacity required to build upon CRSP’s potential.