Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. session and campaign data and also keeps track of site usage for the site's analytics report. This website uses cookies to improve your experience while you navigate through the website. 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. This communication contains forward-looking information related to Nasdaq,Verafinand the acquisition ofVerafinby Nasdaq that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Verafin provides artificial intelligence and machine learning to give you the ability to quickly uncover illicit activity, along with solutions to strengthen your end-to-end BSA/AML compliance program. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. 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. Robert WEBB, robert.webb@verafin.com 709.752.3050 ext. Verafin has enjoyed tremendous growth in recent years, and its long-term vision of fighting financial crime through collaboration and cross-institutional analysis is fast becoming the industry standard for fraud detection and anti-money laundering (AML) regulatory compliance. 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. This website uses cookies to improve your experience while you navigate through the website. Bing Ads sets this cookie to engage with a user that has previously visited the website. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. William Blair& Company acted as financial advisor to Verafin in connection with the transaction. Necessary cookies are absolutely essential for the website to function properly. Used by Microsoft Advertising as a unique ID for visitors. This cookie is used by Leadlander. The forward-looking statements included in this communication are made only as of the date hereof. We also use third-party cookies that help us analyze and understand how you use this website. Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, Florida Bankers comparative measure. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. This cookie is used to store the referral link when a user initially discovers on Verafins website. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. Phone Number 877.368.9986. Report incorrect company information. 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. READ MORE Microsoft Clarity cookie. Tel. documents will be available at the companys Investor Relations website, http://ir.nasdaq.com/investor-relations. This communication contains forward-looking information related to Nasdaq,Verafinand the acquisition ofVerafinby Nasdaq that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. 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. We see a massive opportunity ahead for Verafin to continue to lead this market transformation through continued product innovation and thought leadership.. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. organic revenue3 growth outlook within its Solutions Segments to 6-9% (from 5-7% previously). Labrador and an economic leader in St. Johns. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. This cookie is used to store the user consent for the cookies in the category "Other". Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, When used in this communication, words such as will, believes, can and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. . $('#wpaloginform label[for="user_email_username"]').text("Enter your email address"); Nasdaqs investment will help Verafin expand its For over 25 years, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading software, information services and Internet companies. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Copyright 2019, Verafin Solutions ULC All rights reserved. ST. JOHNS, Newfoundland and Labrador--(BUSINESS WIRE)--Verafin, the worlds largest financial crime management software company, announced today the completion of a C$515 million equity and debt recapitalization. The Logic 2023 The Logic Inc. All Rights Reserved. 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. The cookie stores information anonymously and assigns a randomly generated number to recognize unique . ET, Nasdaq will host a webcast presentation to discuss the transaction. 18 Hebron Way. Verafin Inc. Website. The cookie is used to store if a user has or has not consented to the use of cookies. LinkedIn sets the lidc cookie to facilitate data center selection. This cookie is used to record the user consent for the cookies in the "Advertisement" category. This cookie is used to store the user consent for the cookies in the category "Performance". LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. 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.. This cookie is used by Leadlander. Sign up to receive the latest educational resources about today's financial 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. enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. Verafin Cookie. Verafin is a company that provides financial crime management solutions. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Verafin and YayPay. Copyright 2019, Verafin Solutions ULC All rights reserved. Necessary cookies are absolutely essential for the website to function properly. The transaction accelerates Nasdaq's ongoing . services enables clients to optimize and execute their business vision with confidence. This website uses cookies to improve your experience while you navigate through the website. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. Verafin has raised a total of $454M in funding over 5 rounds. These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. this transaction. LinkedIn sets this cookie to store performed actions on the website. Forward-looking statements Who is Verafin? Verafin, a Nasdaq company, is an industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. 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. This cookie is to record user's consent for the cookies in the category "Functional". LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. At the core of Nasdaqs mission, we champion fairness and integrity in the markets that we build and in the broader financial ecosystem in which we See the bigger picture with reporters and industry experts in subscriber-exclusive events. You also have the option to opt-out of these cookies. In order to foster the next generation of talent in the province and help support Verafins growing These documents are also available under the Investor Relations section of Nasdaq s website at http://ir.nasdaq.com/investor-relations. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The cookie is used to store if a user has or has not consented to the use of cookies. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Americas +1 212 318 2000. The cookie is used to analyse the website's visitors and monitor traffic patterns. 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. Analytical cookies are used to understand how visitors interact with the website. Visit www.verafin.com, email info@verafin.com or call 1.877.368.9986. 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. 2021 Proxy Statement. 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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. Verafin respects your ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those Income Statement Trend Summary and GAAP to Non-GAAP Reconciliation, Read our 2021 Sustainability Report, TCFD Report, and GRI, SASB, and WEF Indexes. SaaS companies. 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. Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads, according to the user profile. To this end, Nasdaq Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads, according to the user profile. 7819, Media, Analysts and General Contact . This cookie is used to store the user consent for the cookies in the category "Necessary". LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. This cookie is used to store the user consent for the cookies in the category "Analytics". Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Records the default button state of the corresponding category & the status of CCPA. But opting out of some of these cookies may have an effect on your browsing experience. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a comparative measure. Bing Ads sets this cookie to engage with a user that has previously visited the website. The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. As previously disclosed in Nasdaqs press release on November 19, 2020 regarding the acquisition of Verafin, the inclusion of Verafin increases the growth potential of Nasdaq, resulting in managements outlook for organic revenue growth in the Market Technology business of 13-16% CAGR over the medium-term (3-5 years), and an increase to its outlook for the broader Solutions Segments businesses to achieve a 6-9% organic revenue CAGR over the medium-term. 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This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. 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. It is expected to enhance Nasdaqs performance and valuation potential, in particular by accelerating As a result, Nasdaq is raising its Market Please refer to our, 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. 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. The cookie is a session cookie and is deleted when all the browser windows are closed. Stores the Clarity User ID and preferences, unique to that site, on the browser. demands innovative action. The company's line of business includes providing computer programming services. These cookies will be stored in your browser only with your consent. The pattern element in the name contains the unique identity number of the account or website it relates to. 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. Verafin, a Nasdaq company, is an industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. When used in this communication, words such as intends, plans, Verafin Usa's Annual Report & Profile shows critical firmographic facts: What is the company's size? To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. 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. ARR does not have any standardized Verafins legal advisor. This cookie is used to store the user consent for the cookies in the category "Analytics". St. John's, NL A1A 0L9. Together with Verafins founders and employees, we look forward to building Nasdaq into a global leader in anti-financial crime management solutions. Verafin is the exclusive provider forTexas Bankers Association, Western Bankers Association, Florida Bankers Association, Massachusetts Bankers Association, and CUNA Strategic Services, with industry endorsements in 48 U.S. states. By clicking Accept, you consent to the use of ALL the cookies. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Looking ahead, Verafins capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaqs technology to detect market manipulation and abuse. alert("Please enter your email address"); Nasdaqs and This cookie is used to store the referral link when a user initially discovers on Verafins website. hereof. But opting out of some of these cookies may have an effect on your browsing experience. Verafins existing executive leadership team will continue to lead the company. The cookie is used to store if a user has or has not consented to the use of cookies. These cookies track visitors across websites and collect information to provide customized ads. Here's a list of some of the top trending technologies and APIs used by Verafin. We look forward to working with Jamie and the rest of the Verafin team to continue to support their product-innovation led go-to-market strategy that has enabled the Companys explosive growth., Dave Unsworth, General Partner at IVP added, Verafin is in the very early innings of its mission to create the worlds most effective crime fighting network. Verafins innovative fraud and AML detection platform, combined with Nasdaqs. Verafins research and development. Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. the last three years. This cookie is used to store the user consent for the cookies in the category "Analytics". The cookie is used to analyse the website's visitors and monitor traffic patterns. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. However you may visit Cookie Settings to provide a controlled consent. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. 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. These cookies track visitors across websites and collect information to provide customized ads. Following the transaction, Verafin co-founders, management and employees will collectively represent the largest shareholding group. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by customers. To track previous page view id and url. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law. In addition, Nasdaq admires the extensive charitable and community support that Verafin has provided to date and Asia Pacific +65 6212 1000. 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. Type a symbol or company name. Over 2,000 banks and Software Updates. authorities that rely on Nasdaqs technology to detect market manipulation and abuse today. Looking ahead, Verafins capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaqs technology to detect market manipulation and abuse. Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . LinkedIn sets this cookie to remember a user's language setting. . The recapitalization allows Verafin to aggressively pursue its growth plans while remaining an independent company. These cookies will be stored in your browser only with your consent. 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. 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. You also have the option to opt-out of these cookies. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. measures, including organic revenue growth, non-GAAP EBITDA and ROIC. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. 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. proposed transaction on the market price of Nasdaqs common stock or on Nasdaqs operating results; significant transaction costs; unknown liabilities; the risk of litigation or regulatory actions related to the proposed transaction; This enables BSA/AML professionals to perform powerful and efficient ongoing due diligence that is in line with the true risk the customer poses to the institution. Houlihan Lokey served as the financial advisor to Verafin. Osler, Hoskin& Harcourt LLP acted as + Go To Resource Analytical cookies are used to understand how visitors interact with the website. Verafin Inc was founded in 2003. It works only in coordination with the primary cookie. 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. In the first quarter of 2019, Verafin hit $100 million in annual recurring revenue growth of 87 per cent since the beginning of 2017. Links to the webcast and accompanying privacy. Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial Verafin, a Nasdaq company, is an industry leader in enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management,. Verafins results will be reported within Nasdaqs Market Technology segment. Nasdaq believes presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. At the time, Verafin CEO Jamie King. Our diverse offering of data, analytics, software and This cookie is used to store user's last activity, it is created by user's last activity time following with a unique multiple-digit number as session ID. LinkedIn sets this cookie to remember a user's language setting. We believe that Verafin will not only complement and grow our existing presence in Canada, but also represents a potential catalyst for further investment Bing Ads sets this cookie to engage with a user that has previously visited the website. LinkedIn sets this cookie to remember a user's language setting. 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. However you may visit Cookie Settings to provide a controlled consent. Nov 25, 2022. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. 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. 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. Heres a closer look at the factors driving the dealand whos set to profit should the acquisition go through. employment base, Nasdaq will work closely with Memorial University to grow its scholarship program at the University, enhance its co-op programs, and fund and supervise at least six Mitacs fellowships annually The financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. }); 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. Investors should not rely on any single financial measure when evaluating these businesses. Up to The agreement to acquire Verafin was announced on November 19, 2020. 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 . insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients. This financing round with our long-term partners Spectrum Equity and IVP allows Verafin to accelerate our investments in product innovation and customer success, and continue our progress in market penetration of larger financial institutions, said Jamie King, CEO of Verafin. This cookie is used to record the user consent for the cookies in the "Advertisement" category. Great journalism delivered straight to your inbox. Longview Communications& Public Affairs (Canada). Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. The pattern element in the name contains the unique identity number of the account or website it relates to. Type a symbol or company name. This documentary-style series follows investigative journalists as they uncover the truth. Crossing Boundaries: The Expansive Threat of BEC, Do Not Sell My Personal Information (CA Residents Only). A reconciliation ofnon-GAAPforward looking information to their corresponding GAAP measures cannot be provided without unreasonable efforts due to the inherent difficulty in quantifying certain amounts due to a variety of factors, including the unpredictability in the movement in foreign currency rates, Nasdaqs effective tax rate as well as future charges or reversals outside of the normal course of business.
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