If you collect Air Miles, this news is for you.

It was announced on Friday, BMO Financial Group has signed a deal to acquire the Air Miles loyalty rewards program from LoyaltyOne Company.

Financial terms of the agreement were not immediately available.

The deal has been proposed as part of LoyaltyOne’s proceeding under the Companies’ Creditors Arrangement Act.

“Their balances, their miles have always been safely protected and we’ll continue to do so, and so we’re very happy and optimistic about the future of the program” Air Miles President Shawn Stewart told collectors.

Air Miles has nearly 10-million active collector accounts.