Verafins capabilities will be available to the global network of nearly 250 banks, exchanges, broker-dealers and buy-side organizations, and regulatory Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Corporate and Investor Relations Contact Strengthens Verafin as a center of innovation and technology within the province of Newfoundland and. $('#wpaloginform').submit(function( ) { Nasdaqs global reach combined with Verafins powerful analytics, robust data insights, and innovative investigation tools, will create a next generation suite of solutions to fight financial crime and promote integrity throughout the financial ecosystem. and infrastructure provider. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . This press release includes certain non-GAAP financial market according to Oliver Wyman, have become increasingly attractive solutions for financial institutions. Chris Mitchell, Managing Director at Spectrum Equity said, We are thrilled to be renewing our partnership with Verafin via this new investment to support its next phase of growth. leader in financial technology, is a major vote of confidence and a significant win for the Province of Newfoundland and Labradors technology and innovation sector. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! To track previous page view id and url. Verafin Inc. Website. Verafins innovative anti-money laundering and fraud platform and client breadth. transaction with a combination of US$2.5billion of debt and cash on hand and expects debt / non-GAAP EBITDA leverage to be approximately 3.9x pro forma for the transaction. The 2021 interagency guidance also listed what is not considered a model, such as standalone systems that flag singular transactions over certain dollar thresholds (such as wire transfers or cash activity). LinkedIn sets the lidc cookie to facilitate data center selection. The cookie is used to analyse the website's visitors and monitor traffic patterns. Investors should not rely on any single financial measure when evaluating these businesses. Asia Pacific +65 6212 1000. Investigator for anti-money laundering (AML). Verafin expects to deliver in excess of US$140million4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, Further information on these and other risks and uncertainties relating to Nasdaq can be found in its VERAFIN - Massachusetts Bankers Association Home These symbols will be available throughout the site during your session. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. But opting out of some of these cookies may have an effect on your browsing experience. Nasdaq includes acquisitions in its organic growth calculations after they have been part of Nasdaq for 12 months, and as such, Verafins impacts on organic revenue and non-GAAP expense growth will begin in the first quarter of 2022. leading trade and market surveillance solution, will empower Nasdaq to play an increasingly important role in building stronger economies around the world, said Adena Friedman, President annual recurring revenue growth, or ARR1, within a US$13billion addressable Verafin is a company that provides financial crime management solutions. reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time and available at Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. These cookies are used for advertising, site analytics, and other operational purposes. These cookies ensure basic functionalities and security features of the website, anonymously. The transaction is subject to regulatory approvals and other customary closing conditions. 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada. Nasdaq believes that thesenon-GAAPmeasures provide useful information to management and investors regarding certain financial and business trends relating to Nasdaqs financial condition and results of operations. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. However you may visit Cookie Settings to provide a controlled consent. Verafin is the industry leader in LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Leveraging its robust big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin can significantly reduce false positive alerts, deliver context-rich insights and streamline the daunting BSA/AML compliance processes that financial institutions face today. will, believes, expected, projected and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. the last three years. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. This cookie is used to store the user consent for the cookies in the category "Necessary". Nasdaq buying N.L. online security company Verafin in $2.75B US deal - CBC The cookie is a session cookie and is deleted when all the browser windows are closed. Verafin Inc Company Profile | St. John's, NL, Canada | Competitors Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. St. John's online security and anti-fraud company Verafin will be sold to global technology giant Nasdaq for $2.75 billion US, the companies announced Thursday, making for a "very exciting day . The company's line of business includes providing computer programming services. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. The forward-looking statements included in this communication are made only as of the date A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. hereof. See the bigger picture with reporters and industry experts in subscriber-exclusive events. Tel. READ MORE Verafin's quiet, huge success: Canada's largest venture funding deal When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The annual report on Form 10-K provides a comprehensive overview of the company's business and financial condition and includes audited financial statements. Blogs. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. What will they do with all the cash? Automation and vendor solutions, a US$13billion The cookie is used to store if a user has or has not consented to the use of cookies. local employment levels to fuel Verafins growth. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. existing regulatory technology and anti-financial crime solutions, which include its renowned Nasdaq Trade and Market Surveillance offering, its Buy-side Compliance product, as well as the Nasdaq Automated Nasdaq and Verafin believe presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. Nearly 3,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Verafin Financial Crime Management Jack Henry. 2023, Nasdaq, Inc. All Rights Reserved. This cookie is to record user's consent for the cookies in the category "Functional". 2023, Nasdaq, Inc. All Rights Reserved. Software Updates. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. this transaction. Verafins research and development. For purposes of providing the pro-forma impact of the Verafin acquisition, Verafins forecasted results are included and the impact of purchase This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance The transaction is expected to increase revenue contribution from the highest-growth Market Technology and Investment Intelligence segment to 47% (from 45%) of total Nasdaq net revenue2 pro forma for the third quarter of 2020. Verafins all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, leveraging behavioral analytics to help you effectively identify crime, From investigators and senior management, to deposit operations, collections and front-line staff Verafin can help all areas of your institution combat financial crime. The cookie is used to analyse the website's visitors and monitor traffic patterns. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. accelerate Market Technologys projected timing of meeting the rule of 405 threshold to 2023, two years ahead of Market Technologys 2025 target. Quarterly results Annual reports SEC filings Financial strength rating in place and continue to lead the companys growth. It is expected to close in the first quarter of 2021. scalable, subscription revenue.. Stores the Clarity User ID and preferences, unique to that site, on the browser. The acquisition would value Verafin at more than $3.5 billion, and boost Nasdaq's position in the data-intelligence market. Award-Winning Sales Intel. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Articles, Webinars, White Papers and more. Analytical cookies are used to understand how visitors interact with the website. Necessary cookies are absolutely essential for the website to function properly. discussion of this and other non-GAAP measures. This website uses cookies to improve your experience while you navigate through the website. This cookie is to record user's consent for the cookies in the category "Functional". www.verafin.com Contact Information Headquarters 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada (877) 368-9986 Verafin Profile and History We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. The agreement to acquire Verafin was announced on November 19, 2020. At Nasdaq, we believe that fair, secure and transparent markets are vital to creating strong economies that move the world forward, said Adena Friedman, President and Chief Executive Officer, Nasdaq. LinkedIn sets this cookie for LinkedIn Ads ID syncing. LinkedIn sets this cookie to remember a user's language setting. Sign up to receive the latest educational resources about today's financial This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance with U.S. GAAP. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. With Security in the Verafin Cloud The Verafin Cloud is a secure infrastructure for data storage and analysis, which provides convenient, on-demand access to the Verafin Verafins secure cloud infrastructure enables technology advancements,superior customer service and application enhancements. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. The proposed deal comes just over a year after Verafin clocked the biggest venture funding round in Canadian history: a $515-million equity and debt recapitalization deal to help build out its product innovation and land bigger clients in the banking sector. These cookies will be stored in your browser only with your consent. . Ottawas heart institute promises to return US$250,000 grant from bankrupt FTX empire, New federal innovation organization will levy penalties on publicly subsidized IP leaving country, Enthusiast Gaming accuses former executive of calculated coup against CEO, U.S.-based startup with plans to store carbon in deep oceans skips Canada for Iceland. Report incorrect company information. }); By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.s products and services. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. St. John's, NL A1A 0L9. This cookie is used to store user's information to prepopulate the forms and track user's site usage. To connect multiple page views by a user into a single Clarity session recording. LinkedIn sets this cookie for LinkedIn Ads ID syncing. return on invested capital, and IRR objectives. The acquisition of Verafin is expected to deliver EPS accretion beginning in 2022 and meet Nasdaqs ROIC, or The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. 1.866.781.8433. This cookie is used to store the user consent for the cookies in the category "Other". LinkedIn sets the lidc cookie to facilitate data center selection. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Visit www.verafin.com, email info@verafin.com or call 1.877.368.9986. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. But opting out of some of these cookies may have an effect on your browsing experience. Bloomberg Anywhere Remote Login. extraordinary growth and stellar client retention. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. NEW YORK and ST. JOHN'S, Newfoundland and Labrador, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, announced today the completion of its acquisition of Verafin, an industry pioneer in anti-financial crime management solutions.The agreement to acquire Verafin was announced on November 19, 2020.. position as an economic and technology leader from its base in St. Johns and within the province of Newfoundland and Labrador. Using artificial intelligence Join industry-leading anti-financial crime experts as they reveal results of trend analysis of an immense set of anonymized data from financial institutions in the Verafin Verafin is the industrys leading Financial Crime Management platform, trusted by financial institutions using iCore360 core banking systems to strengthen compliance and combat evolving financial Industry trends & hot topics delivered to your inbox. Verafin's. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Form 10-K | Investor.gov Represents one of the largest ever growth financings of a Canadian software business, Funding will accelerate Verafins product innovation roadmap and the expansion of sales and marketing initiatives into large financial institutions. involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Oil-sands companies had a blockbuster earnings season. Subscribe now to start reading premium, award-winning journalism. Together with Nasdaq, we will be a clear leader in expanding the fight against illicit finance by delivering our capabilities to a global client base from our This cookie is used by Leadlander. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. This cookie is used to store the user consent for the cookies in the category "Performance". These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. Further information on these and other risk and uncertainties relating to Nasdaq can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with theSECfrom time to time and available atwww.sec.gov. credit unions use Verafin to effectively fight financial crime and comply with regulations. strategic ambitions, the acquisition also furthers our goal to be a premier provider of cloud-based SaaS solutions to the global capital markets and beyond. At the time, Verafin CEO Jamie King. Association, Massachusetts Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states.