Bullish has signed a binding agreement to acquire Equiniti from private equity firm Siris in a transaction valued at $4.2 billion, marking one of the larger fintech and market infrastructure deals of the year.
The consideration includes Bullish assuming $1.85 billion of Equiniti’s existing debt and issuing about $2.35 billion in Bullish shares, priced at $38.48 per share based on the company’s 30-day volume-weighted average price as of May 4, 2026. Siris will also receive two seats on Bullish’s board as part of the transaction.
Equiniti, a New York-based financial services and technology provider, works across shareholder management, pension administration, and customer remediation. The company serves businesses and investors in more than 120 countries, helping manage ownership records, payments, and other complex financial operations.
The deal is expected to close in January 2027, subject to regulatory approvals and customary closing conditions. Founders Tom Farley and Dan Kramer are tied to the transaction as Bullish moves to expand its position in financial infrastructure.
The consideration includes Bullish assuming $1.85 billion of Equiniti’s existing debt and issuing about $2.35 billion in Bullish shares, priced at $38.48 per share based on the company’s 30-day volume-weighted average price as of May 4, 2026. Siris will also receive two seats on Bullish’s board as part of the transaction.
Equiniti, a New York-based financial services and technology provider, works across shareholder management, pension administration, and customer remediation. The company serves businesses and investors in more than 120 countries, helping manage ownership records, payments, and other complex financial operations.
The deal is expected to close in January 2027, subject to regulatory approvals and customary closing conditions. Founders Tom Farley and Dan Kramer are tied to the transaction as Bullish moves to expand its position in financial infrastructure.