Morningstar Wades Further into ESG Space with Sustainalytics Acquisition
The ESG data space has seen a fair amount of M&A activity in recent years, and that is likely to continue, sources say.
On Tuesday, Morningstar announced it would acquire the remaining shares of ESG specialist Sustainalytics, rounding out the 40% stake the research giant took in the company in 2017. According to a release, the transaction includes a €55 million ($67.6 million) cash payment (subject to adjustment), “and additional cash payments in 2021 and 2022 based on a multiple of Sustainalytics’ 2020 and 2021 fiscal year revenues,” which Morningstar estimates to be worth €170 million ($209 million). All
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