Bullish soars on $4.2 billion deal to acquire transfer agent Equiniti
Shares of crypto exchange Bullish spiked on news that the firm agreed to acquire transfer agent Equiniti for $4.2 billion, comprising $1.85 billion of assumed debt and $2.35 billion in Bullish stock consideration.
The deal is Bullish’s latest effort to build out its tokenized securities capabilities for around-the-clock trading and instant settlement, per a Tuesday press release.
Equiniti is one of the largest transfer agents, providing services to around 3,000 companies including Warren Buffett’s Berkshire Hathaway, luxury automobile maker Rolls-Royce, and credit ratings giant Moody’s, according to a report from The Wall Street Journal.
“Tokenization is a once-in-a-generation shift in how capital markets operate, the defining infrastructure trend of the next 25 years,” according to Bullish CEO Tom Farley, who was the former president of the New York Stock Exchange. “I believe it uniquely positions us to lead the transition to tokenized securities,” Farley continued in a statement.
Equiniti is one of the largest transfer agents, providing services to around 3,000 companies including Warren Buffett’s Berkshire Hathaway, luxury automobile maker Rolls-Royce, and credit ratings giant Moody’s, according to a report from The Wall Street Journal.
“Tokenization is a once-in-a-generation shift in how capital markets operate, the defining infrastructure trend of the next 25 years,” according to Bullish CEO Tom Farley, who was the former president of the New York Stock Exchange. “I believe it uniquely positions us to lead the transition to tokenized securities,” Farley continued in a statement.
