Seattle startup PitchBook Data has been bought by investment-research firm Morningstar (NASDAQ: MORN) for about $180 million.
Morningstar, a public company, announced the news Friday morning. The deal values 9-year-old PitchBook at $225 million, including the investments Morningstar has already made in the company.
PitchBook was founded in Seattle in 2007 by financial analyst John Gabbert and started by tracking private equity deals. The company expanded to include research on venture-capital deals, IPOs and mergers and acquisitions.
