Crypto Exchange Bullish to Buy Equiniti In $4.2 Billion Deal (1)

Bullish agreed to buy Equiniti from Siris Capital in a $4.2 billion deal, as the crypto exchange seeks to expand in blockchain-based capital markets infrastructure.

Bullish will pay about $2.35 billion in stock and assume $1.85 billion of Equiniti debt as part of the transaction, according to a filing on Tuesday. The deal, which includes an option for Siris to buy non-core Equiniti business lines, is expected to close in January 2027, Bullish said.

Major crypto exchanges have resorted to acquisitions in past months to expand their offerings and lessen their dependence on volatile trading in digital tokens. In April, ...