Equiniti Acquired by Bullish | Financial Services M&A Deal

Bullish has acquired Equiniti, a payments processing business in the transfer agent and shareholder services sector, for $4.2 billion. Bullish acquisitions pair a blockchain-native digital asset platform with Equiniti’s regulated transfer agent capabilities that support nearly 3,000 issuer clients, 20 million verified shareholders, and about $500 billion in annual payments. Equiniti acquisition expands issuer services for tokenized securities by combining token design, issuance, operation, and compliance with end-to-end shareholder communications and system-of-record processing. The merger acquisition is a strategic acquisition by Bullish, with $1.85 billion of assumed Equiniti debt and about $2.35 billion in Bullish stock consideration, subject to purchase price adjustments, and is expected to close in January 2027 after regulatory approvals.