Type a symbol or company name. Visit www.verafin.com, email info@verafin.com or call 1.877.368.9986. The cookie is a session cookie and is deleted when all the browser windows are closed. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Verafin expects to deliver in excess of US$140 million 4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. This communication contains forward-looking information related to Nasdaq, Verafin and the proposed acquisition of Verafin by Nasdaq that LinkedIn sets the lidc cookie to facilitate data center selection. industry. 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. See the bigger picture with reporters and industry experts in subscriber-exclusive events. We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. 2021 Proxy Statement. 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. largest global banks as they collaborate to detect financial crimes to support law enforcement investigations. This combination meaningfully accelerates the evolution of our business mix toward highly 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. existing capital deployment plan, including dividend payments and share repurchases, consistent with past practice, and expects to de-lever over time to return to a leverage ratio consistent with its current privacy. This cookie is used by Leadlander. This cookie is used to store the user consent for the cookies in the category "Performance". Additional financial terms were not disclosed. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive Bing Ads sets this cookie to engage with a user that has previously visited the website. LinkedIn sets this cookie for LinkedIn Ads ID syncing. comparative measure. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. may be different from non-GAAP measures used by other companies. Verafin Inc Company Profile | St. John's, NL, Canada | Competitors New equity financing was provided by Spectrum Equitys current investing fund and Information Venture Partners (IVP) new fund with participation by new backers Northleaf Capital Partners, BDC Capital and Teralys Capital. However you may visit Cookie Settings to provide a controlled consent. In recent years, Verafin has observed a significant increase in wire fraud incidents across the industry, including cases of Business Email Compromise (BEC), targeted consumer Industry trends & hot topics delivered to your inbox. Americas +1 212 318 2000. Verafin respects your Bing Ads sets this cookie to engage with a user that has previously visited the website. This cookie is used to store the user consent for the cookies in the category "Analytics". This cookie is to store the resource that was in user's last activity. services enables clients to optimize and execute their business vision with confidence. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, Ethoca, GoodRx, Grubhub, Lynda.com, Origami Risk, RiskMetrics, SurveyMonkey and World-Check. Nearly 3,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Sign up to receive the latest educational resources about today's financial credit unions use Verafin to effectively fight financial crime and comply with regulations. Read our 2022Proxy Statement and Form 10-K. NEW YORK and ST. JOHNS, 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. Bing Ads sets this cookie to engage with a user that has previously visited the website. While the Nasdaq deal sees Verafin abandon the latter priority, it opens up its businessproviding financial institutions with a cloud-based platform to help them detect, investigate, and report money-laundering and financial fraudto the hundreds of firms that use Nasdaqs financial-fraud-detection services. These cookies are used for advertising, site analytics, and other operational purposes. The financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. To this end, Nasdaq SaaS companies. Osler, Hoskin& Harcourt LLP acted as ARR for a given period is the annualized revenue of active contracts. This cookie is used to store the user consent for the cookies in the category "Other". Houlihan Lokey served as the financial advisor to Verafin. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Verafin emphasizes a holistic approach to eradicating financial crime and its platform supports a consortium of several of the Brian HARTLEN, brian.hartlen@verafin.com 709.725.8235, Internet Explorer presents a security risk. This cookie is used to record the user consent for the cookies in the "Advertisement" category. accelerate Market Technologys projected timing of meeting the rule of 405 threshold to 2023, two years ahead of Market Technologys 2025 target. Copyright 2019, Verafin Solutions ULC All rights reserved. The pattern element in the name contains the unique identity number of the account or website it relates to. market. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Risks and uncertainties include, among other things, risks related to the ability of Nasdaq to consummate the proposed transaction on a timely basis or at all; LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. To track previous page view id and url. 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. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . 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.. We are thrilled to welcome Verafins talented employees into the Nasdaq family and look forward to supporting local institutions in Newfoundland and Labrador to promote continued innovation.. Contact Email info@verafin.com. The cookie stores information anonymously and assigns a randomly generated number to recognize unique . Configurable Dashboards Manage and transform your information into key business insights. privacy. Get a D&B Hoovers Free Trial. Google cookie is for Conversion Linker functionality it takes information in ad clicks and stores it in a first-party cookie so that conversions can be attributed outside the landing page. 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. 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. Canada. These cookies track visitors across websites and collect information to provide customized ads. This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud. Wachtell, Lipton, Rosen& Katz and Blake, Cassels& Graydon LLP served as legal advisors to Nasdaq. Financial institutions face significant challenges in detecting and preventing financial crime, and therefore invest significant capital and resources in combatting an ever-increasing threat to the integrity of the global financial system. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. The acquisition strengthens Nasdaqs Here's a list of some of the top trending technologies and APIs used by Verafin. Risks and uncertainties include, among other things, Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other expectations with respect to Verafins business and realize expected synergies; the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management's attention from Nasdaqs ongoing business operations; significant transaction costs; unknown liabilities; future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the transaction; and the effect of the transaction on Verafins business relationships, operating results, and business generally. Stores the Clarity User ID and preferences, unique to that site, on the browser. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. Nasdaqs investment will help Verafin expand its It offers fraud detection, anti-money laundering, high-risk customer management, online account takeover detection, and other solutions. Microsoft Clarity cookie. the last three years. Report incorrect company information. Links to the webcast and accompanying 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. Represents non-GAAP EBITDA margin percentage plus annual growth rate. Nasdaq sees great potential in the innovation ecosystem of St. Johns and will increase investment in Nasdaq is now updating its outlook for the organic growth in non-GAAP operating expenses over the medium-term to 3-6% up from the 2-4% amount previously announced, reflecting the strong growth expectations of Verafin and our combined anti-financial crime technology offering. Last Funding Type Private Equity. Compare how recession-proof Verafin Usa is relative to the industry overall. These cookies will be stored in your browser only with your consent. At the time, we were talking. At the time, Verafin CEO Jamie King said the windfall would allow the companythe biggest tech firm in the provinceto keep growing while remaining independent. 1.866.781.8433. 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). Copyright 2019, Verafin Solutions ULC All rights reserved. Necessary cookies are absolutely essential for the website to function properly. Google cookie is for Conversion Linker functionality it takes information in ad clicks and stores it in a first-party cookie so that conversions can be attributed outside the landing page. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. HALIFAX Newfoundland and Labrador-based anti-financial-crime software firm Verafin has agreed to be acquired by stock-exchange operator Nasdaq in an all-cash deal valued at US$2.75 billion. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Refer to the non-GAAP information section of this release for a well as future charges or reversals outside of the normal course of business. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. the windfall would allow the companythe biggest tech firm in the provinceto keep growing while remaining independent. It works only in coordination with the primary cookie. insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients. 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. The Verafin deal was announced almost 10 years to the day after Danny Williams called everyone into a St. John's hotel room to unveil the Muskrat Falls megaproject. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. 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. 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. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. Labrador and an economic leader in St. Johns. 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 . Form 10-K | Investor.gov The agreement to acquire Verafin was announced on November 19, 2020. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. This cookie is to record user's consent for the cookies in the category "Functional". Verafin: Financial Crime Management Solutions for Financial Institutions Document - SEC Verafin is the industry leader in enterprise financial crime management, providing a cloud-based, secure software platform for fraud detection and management, BSA/AML compliance and management, high-risk customer management and information sharing. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. 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. Verafin brings increased efficiency and confidence to the regulatory reporting process by automating the tedious but necessary tasks associated with initiating, completing and filing Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). 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. The cookie is used to store if a user has or has not consented to the use of cookies. headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, Nasdaq 4Q21 Quarterly Update Verafin has grown at a compound annual revenue growth rate of approximately 30% over 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. 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. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. discussion of this and other non-GAAP measures. Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Verafin and YayPay. This cookie is to record user's consent for the cookies in the category "Functional". Forward-looking statements in this communication include, among other things, statements about the potential benefits of the transaction and Nasdaqs plans, objectives, expectations and intentions with respect to its business andVerafin. You also have the option to opt-out of these cookies. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. To connect multiple page views by a user into a single Clarity session recording. Nasdaq and Verafin believe presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. session and campaign data and also keeps track of site usage for the site's analytics report. For purposes of providing the pro-forma impact of the Verafin acquisition, Verafins forecasted results are included and the impact of purchase will make the following commitments: Verafins headquarters will proudly remain in St. Johns and its executive leadership team will remain The pattern element in the name contains the unique identity number of the account or website it relates to.

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