Bullish Secures $4.2 Billion Deal to Acquire Equiniti

Bullish, a crypto exchange operator listed on the NYSE under ticker BLSH, has agreed to acquire Equiniti for $4.2 billion in an all-stock transaction.

The deal, announced on May 5, 2026, would combine one of the world's largest transfer agents with a company that also owns CoinDesk and operates a regulated digital asset exchange.

The closing is targeted for January 2027, subject to regulatory approvals. The $4.2 billion headline figure breaks down into $1.85 billion in assumed debt and approximately $2.35 billion in Bullish shares.

Equiniti's current owner, Siris Capital Group, is retaining call options on three UK-focused business lines that were deemed non-core to the Bullish transaction.