2010 10-K: Part II Goodwill of $3,225,000 represents the premium we paid over the  fair value of the net tangible and intangible assets we acquired  with these acquisitions. We paid this premium for a number of  reasons, including the strategic benefit of broadening our database  to include a global financial filings database, expanding our library  of communications materials to include financial charts and com- munication materials for financial advisors in Canada, expanding  our international presence in fund-of-funds investment management  to Australia, and continuing to build our brand name by acquiring  and rebranding Canada’s marquee investment awards program,  which recognizes excellence in products and firms within the finan- cial services industry. Approximately $1,099,000 of the goodwill is deductible for income  tax purposes over a period of approximately 15 years from the acquisition date. In 2009, we acquired an additional 40% ownership in Morningstar  Korea Co., Ltd. (Morningstar Korea), increasing our ownership interest  to 80%. Morningstar Korea provides financial information and ser- vices for investors in South Korea and offers consulting and advisory  services through its subsidiary, Morningstar Associates Korea. Upon acquiring the majority ownership, we increased our investment  to reflect the fair value of the assets and liabilities acquired and  recorded a non-cash holding gain of $352,000. The fair value alloca- tion includes $1,027,000 of goodwill and $609,000 of acquired  intangible assets. We recognized a deferred tax liability of $229,000  mainly because the amortization expense related to certain intan- gible assets is not deductible for income tax purposes. We also  recognized the fair value of the non-controlling interest in  Morningstar Korea. The amount of $550,000, representing the non- controlling interest in Morningstar Korea, is included in our  Consolidated Balance Sheet as of December 31, 2010. See Note 8 for additional information concerning our investment in  Morningstar Korea. In January 2008, we acquired the Hemscott data, media, and inves- tor relations website businesses from Ipreo Holdings, LLC for  $51,279,000 in cash including post-closing adjustments and transac- tion costs directly related to the acquisition, less acquired cash. The  acquisition includes Hemscott Data, which has more than 20 years  of comprehensive fundamental data on virtually all publicly listed  companies in the United States, Canada, the United Kingdom, and  Ireland; Hemscott Premium and Premium Plus, subscription-based  investment research and data services; Hemscott IR, which provides  online investor relations services in the United Kingdom; and  Hemscott.com, a free investment research website in the United  Kingdom. In addition, Hemscott India operates a data collection  center in New Delhi, India. We began including the financial results  of this acquisition in our Consolidated Financial Statements on  January 9, 2008. The following table summarizes our allocation of the purchase price  to the estimated fair values of the assets acquired and liabilities  assumed at the date of acquisition: Increased Investment in Morningstar Korea Co., Ltd. 2008 Acquisitions Acquisition of the Hemscott data, media, and investor relations  website businesses ($000) Cash  $ 1,223 Accounts receivable  3,640 Other current assets  1,117 Property and equipment  1,356 Other non-current assets  305 Intangible assets   20,260 Goodwill   35,683 Deferred revenue  (4,601) Accounts payable and accrued liabilities  (2,959) Deferred tax liability—non-current   (3,522) Total purchase price  $ 52,502 122