Deutsche Boerse AG has agreed to acquire European fund distribution platform Allfunds Group Plc for about €5.3 billion ($6.2 billion) in a cash and stock deal. This move positions the German exchange operator to expand its services beyond trading and clearing into asset management distribution.

The acquisition targets a key player in the European funds market, where Allfunds provides a platform for investment products. Deutsche Boerse aims to capture growth in the continent's asset management industry, which manages trillions in assets, by integrating this digital distribution network.

The transaction, expected to close in 2025, will be funded with existing cash and debt. Investors will watch how Deutsche Boerse leverages the platform to cross-sell services to its client base of banks and asset managers, potentially boosting fee revenue.