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Delirious has had a positive relationship with the Monster Factory for quite a while and appeared on several of their shows. Monster Factory has been a good "in" with ROH for a long time, and now even more so with Cage as Operations Director at the ROH Dojo. Cage was teasing the news for weeks, if not months on social media, so it's been in the works for quite some time. The move is a big one for Future of Honor as well, which has the benefit of having matches filmed in front of an actual audience regularly now as opposed to in front of fellow workers.
This was actually a deal that was pitched as far back as 2014, and then again in 2017, but extenuating circumstances -- including Kevin Kelly leaving Ring of Honor -- caused some speed bumps in the deal. Monster Factory approached ROH again this year and a deal was put together. I'm told it will originally start as a month-to-month deal, but the agreement is for one year.