Bloomberg LP just announced that it will be acquiring the Bureau of National Affairs (BNA), a news service publisher that covers labor law, employee benefits, litigation items, tax information, and much more, for $990 million. As part of the deal, BNA would become a stand alone subsidiary of Bloomberg.

The acquisition means good things for Bloomberg’s audience. “BNA’s employees have built a superior franchise and we are enthusiastic about a Bloomberg-BNA combination that will deliver more premium content to our professional audiences,” explained Dan Doctoroff, CEO and President of Bloomberg. “BNA research and analysis will make Bloomberg’s products even more valuable, and BNA would benefit from our data and technology expertise.”

The transaction is expected to close this year.