New York—Bloomberg has agreed to acquire BNA, a provider of legal, tax and regulatory research and analysis. Bloomberg will pay $990 million in cash in the deal, which is expected to close next year.
Bloomberg said BNA, which would operate as a stand-alone subsidiary, will bolster the company's presence in Washington, D.C., expanding its coverage of U.S. policy and regulatory issues.
“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,” said Dan Doctoroff, Bloomberg president-CEO, in a statement. “BNA research and analysis will make Bloomberg's products even more valuable, and BNA would benefit from our data and technology expertise.”