Deutsche Börse has reached an agreement to acquire fund distribution platform Allfunds in a combined cash and stock transaction amounting to a value of €5.3 billion.
The acquisition will see the German exchange complete the integration of Allfunds into its post-trade and data ecosystem in 2027. The move, which has been in the works since a non-binding offer was confirmed last year, is a part of Deutsche Börse’s efforts to expand its activities beyond the exchange business and transform itself into a provider of financial infrastructure services.
With each Allfunds share valued at €8.80, the transaction is significant for being Deutsche Börse’s largest acquisition ever, surpassing even its €3.9 billion purchase of Danish investment management software firm SimCorp in 2023. Allfunds shareholders will be receiving €6 in cash and 0.0122 Deutsche Börse shares for every Allfunds share, in addition to a dividend of €0.20.
The deal is expected to close in the first half of 2027.
