Morningstar, a Chicago-based financial services firm, has announced plans to acquire the Center for Research in Security Prices from the University of Chicago for $375 million. CRSP is known for its stock market data and indexes, including the CRSP Market Indexes, which serve as benchmarks for over $3 trillion in U.S. equities.
According to the announcement, the acquisition marks an expansion of Morningstar’s index capabilities. The company is expected to become one of the largest providers of public U.S. equity indexes, which are used by investors across various market segments.
“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. We know that assets tied to indexes play a critical role for asset owners when choosing providers, and this acquisition allows us to expand our capabilities to these clients. With CRSP’s expertise and our shared focus on delivering exceptional value, we’re excited to create even more opportunities for investors and help them achieve their long-term goals,” Morningstar’s Kunal Kapoor said in a statement.
CRSP currently generates around $55 million in annual revenue. CRSP team members will join Morningstar Indexes, contributing their research and technical expertise to the company’s existing offerings.
The deal is expected to close in the fourth quarter of 2025.
