Equiniti Acquired by Bullish | Financial Services M&A Deal

Bullish has acquired Equiniti, a payments processing business in Cayman Islands, for $4.2 billion. Bullish acquisitions combine blockchain-native tokenization infrastructure with Equiniti’s regulated transfer agent services for nearly 3,000 issuer clients and about 20 million shareholders. Equiniti processes roughly $500 billion in annual payments and supports mission-critical shareholder administration, strengthening Bullish’s platform acquisition in financial services M&A. The strategic acquisition is structured as a platform acquisition by an institutional-grade digital asset platform, with Bullish assuming about $1.85 billion of Equiniti debt and issuing about $2.35 billion in stock. The deal is announced and expected to close in January 2027, subject to regulatory approvals and customary closing conditions.