Media giant Bloomberg said Thursday that it has struck a $990 million deal for Arlington-based data provider BNA, gaining a formidable presence in the local market.
The transaction, slated to close before the end of the year, calls for New York City-based Bloomberg to acquire all outstanding shares of BNA for $39.50 per share in a cash tender offer to commence Sept. 8.
BNA publishes more than 300 news and information services for professionals in law, tax, business and government. That line up will fit right into Bloomberg’s local operations, which includes Bloomberg News, Bloomberg Government and Bloomberg Law.
“BNA research and analysis will make Bloomberg’s products even more valuable, and BNA would benefit from our data and technology expertise,” said Dan Doctoroff, president and chief executive of Bloomberg, in a release announcing the deal.