Bullish to Sell Three Equiniti Units to Siris in 2027 Deal
Siris has exercised its option to buy three non-core Equiniti business lines as Bullish moves closer to closing its full Equiniti acquisition.
If you've been following Bullish's big move into financial services infrastructure, here's a meaningful update: an affiliate of private equity firm Siris has officially exercised its option to acquire three business lines from Equiniti that Bullish never really wanted to keep in the first place. Those units — EQ Retirement Solutions, EQ Customer Resolutions, and Lenvi — were always considered non-core to Bullish's broader strategy as a digital asset platform.
Think of it like buying a house that comes with a boat and two jet skis you didn't ask for. Bullish is buying Equiniti for its core capabilities, and Siris is swooping in to take the extras off their hands. The two sides are now working on the formal paperwork to carve out these three units, with everything expected to wrap up alongside Bullish's main Equiniti acquisition in January 2027.
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The timeline here is important: both transactions are set to close simultaneously, subject to the usual regulatory green lights and standard closing conditions. That kind of parallel processing keeps things cleaner and avoids a situation where Bullish finds itself temporarily owning businesses it has no intention of running long-term.
One thing worth noting — Bullish has been consistent from the start about keeping these non-core businesses financially separate. Their numbers have been excluded from all transaction disclosures since the original deal was announced, so there's no muddying the waters when it comes to evaluating the core Equiniti acquisition on its own merits. Siris, for its part, gets a ready-made bundle of financial services businesses to add to its portfolio.
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