Deutsche Boerse has reached an agreement to acquire fund distribution platform Allfunds Group in a deal valued at about €5.3bn, or $6.2bn, marking one of Europe’s largest financial infrastructure transactions this year.

The German exchange operator will pay €8.80 per share for Allfunds through a combination of €6 in cash, 0.0122 Deutsche Boerse shares per Allfunds share, and a dividend of up to €0.20 per share payable in May. The transaction confirms earlier reports that Deutsche Boerse had entered exclusive talks with the company.

Allfunds provides fund managers and distributors with dealing, execution, data analytics, and compliance services. The platform administered €1.7tn in assets as of the end of September, positioning it as a critical intermediary in Europe’s investment fund ecosystem.

Private equity firm Hellman & Friedman and BNP Paribas together own roughly 49% of Allfunds. The company had previously explored a sale to buyout firms but paused discussions after concluding that offers undervalued its growth prospects.

The acquisition follows several years of strategic interest in Allfunds. Euronext dropped a €5.5bn indicative bid in 2023, while Deutsche Boerse had also considered a potential approach in 2020 before Allfunds went public.

The deal underlines the continued willingness of strategic buyers to pay scale premiums for data-rich financial infrastructure assets that have previously attracted private equity interest.

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