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Bullish to acquire Equiniti from Siris in $4.2 billion transaction, creating the global transfer agent fo
The deal would combine Bullish’s digital-asset platform with Equiniti’s transfer-agent network, creating a company expected to generate about $1.3 billion in revenue.
On Tuesday, May 5, 2026, Bullish announced a definitive agreement to acquire Equiniti, a leading global transfer agent, in an all-stock transaction valued at $4.2 billion.
This strategic consolidation bridges traditional equity infrastructure with blockchain rails, addressing what Bullish CEO Tom Farley called the absence of a transfer agent built for tokenized securities.
Processing $500 billion in annual payments, Equiniti supports over 20 million shareholders and operates as the system of record for nearly 3,000 public companies; the combined entity projects approximately $1.3 billion in adjusted total revenue for 2026.
Following the deal's expected January 2027 closing, Equiniti CEO Dan Kramer and his leadership team will retain day-to-day operational responsibility, while Siris Capital secures two board seats in the combined company.
Bullish projects 6-8% annual revenue growth through 2029, with 20% growth from tokenization services, as the acquisition lands amid a broader wave of crypto firms racing to build full-stack financial infrastructure.