DLA Piper advises Morningstar on cross-border GBP35 million acquisition

Global law firm DLA Piper has advised Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research in North America, Europe, Australia and Asia, on its proposed acquisition of 100% of Praemium Limited’s United Kingdom and International Business (being its operations in UK, Jersey, Hong Kong and Dubai), for GBP 35m (approx. AUD 65.1m).

The Sale and Purchase Agreement (SPA) signed on 21 December 2021.

“This transaction demonstrates our capabilities in leading complex and multi-jurisdictional transactions,” noted Grant Koch, Head of Corporate, DLA Piper.

Grant, supported by Solicitors Jake Thornton, Mariam Jaber and Charlie Lian, led the cross-border team comprising lawyers in London (Tony Katz, Partner; Chris Arnold, Partner; Katie O’Hara, Senior Associate; Hugo Cliff, Associate), Dubai (Will Seivewright, Partner; Grace Hunt, Senior Associate), and Singapore (David Kuo, Partner; Karen Lee, Associate). Technology and Data Partner Nick Boyle, assisted by Senior Associate Alexandra Dagger, led on the TSA and IP Licence arrangements.

“Our multi-disciplinary global team was key to ensuring this transaction progressed smoothly, and we are grateful to have played a key role in another deal for Morningstar,” Mr Koch said.

DLA Piper also advised Morningstar on its acquisition of financial planning software business AdviserLogic, and its acquisition of Cuffelinks Pty Ltd, the publisher of independent online financial newsletter "Firstlinks", in 2019.