Forward-looking statements LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. Ed Ditmire, CFA: +1 212 401 8737ed.ditmire@nasdaq.com, Ryan Wells: +1 646 648 3887 ryan.wells@nasdaq.com, Yan-yan Tong: +46 (0)73 449 66 83yan-yan.tong@nasdaq.com, Longview Communications & Public Affairs (Canada)Ian Hamilton: +1 905 399 6591ihamilton@longviewcomms.caAndy Lloyd: +1 416 402 5029alloyd@longviewcomms.ca, Brian Hartlen: +1 709 725 8235brian.hartlen@verafin.com. 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 Form 10-K | Investor.gov This cookie is used to record the user consent for the cookies in the "Advertisement" category. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Also, cash aggregation reports from the financial institution's core system used to identify needed CTRs would not be considered a model. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Verafin expects to deliver in excess of US$140 million4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. Verafin will continue to operate in St. Johns, Newfoundland and Labrador as a stand-alone organization aligned with Nasdaqs Market Technology business. Type a symbol or company name. It is expected to close in the first quarter of 2021. These cookies are used for advertising, site analytics, and other operational purposes. 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. Nasdaq or Verafin, and the anticipated timing of closing of the proposed transaction. Verafin - Funding, Financials, Valuation & Investors Analytical cookies are used to understand how visitors interact with the website. operate, and combatting financial crime is central to achieving our goals. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. position as an economic and technology leader from its base in St. Johns and within the province of Newfoundland and Labrador. pioneer in anti-financial crime management solutions, today announced that they have entered into a definitive agreement for Nasdaq to acquire Verafin for US$2.75billion in cash, subject to customary adjustments. }); 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. However you may visit Cookie Settings to provide a controlled consent. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. investment grade ratings. Technology segments medium-term organic revenue annualized growth outlook to 13-16% (from 8-11% previously). Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, 2023, Nasdaq, Inc. All Rights Reserved. Award-Winning Sales Intel. This cookie is used by Leadlander. More than 9 companies reportedly use Verafin products in their tech and software stacks, Find your B2B customer within minutes using affordable, accurate contact data from Datanyze, Verafin headquarters are located in 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada, Verafins main industries are: Financial Software, Software, Verafin appears in search results as Verafin, Verafin Inc, Verafi Inc, International Organization for Standardization, Web Hypertext Application Technology Working Group. supporting innovation and growth in St. Johns and Newfoundland and Labrador. institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud. hereof. These cookies track visitors across websites and collect information to provide customized ads. Analytical cookies are used to understand how visitors interact with the website. + Go To Resource C$100 million in annual recurring . By clicking Accept, you consent to the use of ALL the cookies. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Excludes the impact of purchase accounting write-down on deferred revenue. Documents from Prior Periods. . 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. privacy. The intelligent technology solutions Verafin has created are second-to-none, and that is evident in the companys This cookie is used to store the user consent for the cookies in the category "Analytics". At the time, Verafin CEO Jamie King. Combines Nasdaqs global reach and established regulatory technology leadership with. Type a symbol or company name. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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 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. This website uses cookies to improve your experience while you navigate through the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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 . Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. You also have the option to opt-out of these cookies. 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. To connect multiple page views by a user into a single Clarity session recording. Copyright 2019, Verafin Solutions ULC All rights reserved. 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 Verafins innovative fraud and AML detection platform, combined with Nasdaqs. Bing Ads sets this cookie to engage with a user that has previously visited the website. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. The pattern element in the name contains the unique identity number of the account or website it relates to. Verafin is funded by 10 investors. 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. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. Used by Microsoft Advertising as a unique ID for visitors. We also use third-party cookies that help us analyze and understand how you use this website. Nasdaq is committed to growing Verafins business and creating opportunities for their employees. When used in this communication, words such as intends, plans, industry. Nasdaq believes presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. This cookie is used to store the referral link when a user initially discovers on Verafins website. This investment by Nasdaq, a global 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. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. market. You can withdraw your consent at anytime. This cookie is used to store the user consent for the cookies in the category "Performance". The agreement will combine It works only in coordination with the primary cookie. 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). 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. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. will make the following commitments: Verafins headquarters will proudly remain in St. Johns and its executive leadership team will remain Nasdaq intends to finance the These cookies will be stored in your browser only with your consent. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Verafin | Nasdaq This cookie is used to store the user consent for the cookies in the category "Necessary". 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. Over 2,000 banks and 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. accelerate Market Technologys projected timing of meeting the rule of 405 threshold to 2023, two years ahead of Market Technologys 2025 target. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. Verafin has industry endorsements in 47 states, including the Texas Bankers Association, Western Bankers Association, Florida Bankers Association, Illinois Bankers Association, Massachusetts Bankers Association, and Credit Union National Association Strategic Services. 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. LinkedIn sets this cookie for LinkedIn Ads ID syncing. This cookie is to record user's consent for the cookies in the category "Functional". Report Archives - Verafin These cookies track visitors across websites and collect information to provide customized ads. Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, Florida Bankers 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. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law. This cookie is used by Leadlander. For more information, visit http://www.informationvp.com. Contact Email info@verafin.com. The forward-looking statements included in this communication are made only as of the date headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Verafin and YayPay. 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. Verafin Cookie. documents will be available at the companys Investor Relations website, http://ir.nasdaq.com/investor-relations. This website uses cookies to improve your experience while you navigate through the website. We also use third-party cookies that help us analyze and understand how you use this website. The company's line of business includes providing computer programming services. Spectrum Equity, As potential liability shifts loom with possible implications for wire payments, As financial institutions implement more robust controls against schemes such as wire fraud, criminals respond by evolving their tactics and efforts against more vulnerable customer Fraudsters are uncompromising, often targeting seniors with cruel elder financial abuse tactics from romance and investment scams. 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. Nasdaqs ability to secure regulatory approvals on the terms expected, in a timely manner or at all; Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other Nasdaqs clear commitments to the Province will help foster prosperity Nearly 3,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. 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 the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Blogs. 2021 Proxy Statement. This cookie is used to store the user consent for the cookies in the category "Other". Verafin Cookie. Corporate and Investor Relations Contact 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. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. 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. Our diverse offering of data, analytics, software and Bloomberg Anywhere Remote Login. LinkedIn sets the lidc cookie to facilitate data center selection. Represents revenues less transaction-based expenses. A reconciliation of non-GAAP forward looking information to their corresponding GAAP measures . These cookies track visitors across websites and collect information to provide customized ads. Verafin: Financial Crime Management Solutions for Financial Institutions Quarterly Cloud . LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. These cookies will be stored in your browser only with your consent. $('#wpaloginform label[for="user_email_username"]').text("Enter your email address");

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