(Updates with information from the official company announcement throughout.)

Goldman Sachs (GS) said Wednesday it has agreed to purchase exchange-traded fund provider NEOS Investments for up to $2.25 billion in cash and equity.

The acquisition will add $30 billion in assets to the buyer's active income portfolio, elevating its global platform to $130 billion, the company said.

The founders and staff of NEOS will join Goldman Sachs' asset management unit when the deal closes in Q1 2027.