Morningstar Research Inc. has acquired Andex Associates Inc., a privately held firm that produces financial charts and communications materials for financial advisors, Morningstar said Friday.

Terms of the deal were not disclosed.

Based in Windsor, Ont, Andex was founded in 1993 by Anthony DiMeo and Dexter Robinson. The company is best known for its Andex Charts, individual graphic charts detailing historical market returns, stock index growth, inflation rates, currency rates, and general economic conditions for the United States dating back to 1926, and for Canada dating back to 1950. The charts offer in-depth historical information to help investors understand the context and propensity of market downturns and recoveries.

Andex serves most of the leading financial services firms in Canada, including BMO Financial Group, CIBC, Great West Life, Investors Group, London Life, RBC Royal Bank, Bank of Nova Scotia, and TD Canada Trust.

“Andex Charts are the best-selling financial charts and images in the Canadian market, and Morningstar has the best-selling financial charts in the U.S. market. Adding Andex Charts to Morningstar’s product lineup will allow us to offer our combined client base a broader range of financial communications materials,” says Mike Barad, vp of financial communications for Chicago-based Morningstar, Inc.

Scott Mackenzie, president and CEO of Toronto-based Morningstar Research Inc., says, “Morningstar has been building its business in Canada for the last decade, and we’re excited to be able to broaden our product offerings and further expand our brand presence in the Canadian market. This acquisition also gives us the opportunity to grow our client base and reach many new advisors and investors.”

Separately, Morningstar Research reports it has completed its previously announced acquisition of the equity research and data business of C.P.M.S. Computerized Portfolio Management Services Inc., a privately owned independent equity research and data firm in Toronto, for $16.1 million, subject to post-closing adjustments.

C.P.M.S. tracks fundamental equity data for approximately 4,000 securities in the United States and Canada as well as provides brokerage earnings estimates for Canadian equities.

IE