Bullish, the NYSE-listed digital asset platform, announced that an affiliate of Siris Capital Group has exercised its option to acquire Equini t’s non-core business lines: EQ Retirement Solutions, EQ Customer Resolutions, and Lenvi. The carve-out will proceed in parallel with Bullish’s planned $4.2 billion acquisition of Equiniti, with closing expected in January 2027 and subject to customary regulatory approvals. Regulators in the United Kingdom, United States, and Germany have granted competition clearances, moving the deal forward. Bullish CEO Tom Farley described the transaction as creating an institutional-grade operating system for tokenized securities by integrating Equiniti’s transfer-agent and issuer relationships with Bullish’s tokenization platform. The financial results of the non-core businesses have been excluded from all transaction disclosures, and the deal will also leverage CoinDesk’s media, data, and research capabilities. Analysts view the move as part of a broader consolidation in the debt collection and information-services space, with Equini t retaining other operations and continuing to operate in key markets.