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. + Go To Resource However you may visit Cookie Settings to provide a controlled consent. 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.. You can withdraw your consent at any time. Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Verafin and YayPay. session and campaign data and also keeps track of site usage for the site's analytics report. Copy and paste multiple symbols separated by spaces. institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud. 2023, Nasdaq, Inc. All Rights Reserved. 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. "Bloomberg Opinion" columnists offer their opinions on issues in the news. Verafin Company Profile - Office Locations, Competitors, Financials LinkedIn sets the lidc cookie to facilitate data center selection. Founders Brendan Brothers, Jamie King, Raymond Pretty. Relying on siloed teams, spreadsheets, By following the money, financial institutions and investigators play a critical role in the fight against human trafficking helping to uncover the perpetrators and Verafin is the industrys leading Financial Crime Management platform, trusted by 1200 credit unions to strengthen compliance and combat evolving financial crimes. Anti-financial crime technology represents a large and growing sector with structural and regulatory tailwinds. 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 raised a total of $422.2 M in funding over 3 rounds. These measures are not in accordance with, or an alternative to, U.S. GAAP, and 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 Breaking down Nasdaq's US$2.75-billion deal for Newfoundland tech Used by Microsoft Advertising as a unique ID for visitors. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . 2020 Annual Report. $('#wpaloginform label[for="user_email_username"]').text("Enter your email address"); The forward-looking statements included in this communication are made only as of the date Verafins innovative fraud and AML detection platform, combined with Nasdaqs. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Here's a list of some of the top trending technologies and APIs used by Verafin. LinkedIn sets the lidc cookie to facilitate data center selection. You can withdraw your consent at anytime. Nasdaq believes that its deep relationships with the majority of leading Tier 1 and Tier 2 banks globally will accelerate Verafins strategy of Visit www.verafin.com, email info@verafin.com or call 866.781.8433. Additionally, we are committed to Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday. 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. 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. 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. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Verafin is the exclusive provider for Texas Bankers Association, Western Bankers Association, Florida Bankers It offers fraud detection, anti-money laundering, high-risk customer management, online account takeover detection, and other solutions. Nasdaq believes presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. As a Nasdaq company, Verafin extends its capabilities to service a global ecosystem of Tier-1 and Tier-2 banks, as well as regulatory authorities and consortium initiatives. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! The cookie is used to analyse the website's visitors and monitor traffic patterns. this transaction. Who is Verafin? 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. What will they do with all the cash? Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. Verafin's. Legal Name Verafin Inc. Company Type For Profit. 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). Records the default button state of the corresponding category & the status of CCPA. 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. Spectrum Equity, privacy. However you may visit Cookie Settings to provide a controlled consent. Verafin has grown at a compound annual revenue growth rate of approximately 30% over Evercore served as lead financial advisor to Nasdaq, along with J.P. Morgan Securities LLC. Bing Ads sets this cookie to engage with a user that has previously visited the website. Records the default button state of the corresponding category & the status of CCPA. Verafin Cookie. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. This cookie is used to store the user consent for the cookies in the category "Analytics". These cookies track visitors across websites and collect information to provide customized ads. Subscribe now to start reading premium, award-winning journalism. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, Ethoca, GoodRx, Grubhub, Lynda.com, Origami Risk, RiskMetrics, SurveyMonkey and World-Check. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. return on invested capital, and IRR objectives. Brian HARTLEN, brian.hartlen@verafin.com 709.725.8235, Internet Explorer presents a security risk. market. These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. EMEA +44 20 7330 7500. 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. 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 This cookie is used by Leadlander. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. teamwork, entrepreneurship, and a commitment to continued growth and development. Refer to the non-GAAP information section of this release for a Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. Verafin Cookie. Verafin Logon This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Articles, Webinars, White Papers and more. industry. 1.866.781.8433. What industry is the company in? Longview Communications& Public Affairs (Canada). Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. 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 Document - SEC These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Robert WEBB, robert.webb@verafin.com 709.752.3050 ext. Quarterly Cloud . The cookie is a session cookie and is deleted when all the browser windows are closed. 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. and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. This press release includes certain non-GAAP financial Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Valuable research and technology reports. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. These cookies are used for advertising, site analytics, and other operational purposes. Osler, Hoskin& Harcourt LLP acted as This investment by Nasdaq, a global discussion of this and other non-GAAP measures. 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. LinkedIn sets this cookie to store performed actions on the website. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. This cookie is used to store the user consent for the cookies in the category "Analytics". Represents revenues less transaction-based expenses. US$2 trillion in laundered money flows through the financial system annually according to the United Nations, and criminals continue to find sophisticated methods for moving funds undetected. When used in this communication, words such as intends, plans, To this end, Nasdaq 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. This cookie is used to store the user consent for the cookies in the category "Performance". Operating Status Active. Great journalism delivered straight to your inbox. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. Manage Products and Account Information. future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the proposed transaction; and the effect of the announcement or pendency of the transaction on Verafins business This cookie is used to store the user consent for the cookies in the category "Performance". Verafins capabilities will be available to the global network of nearly 250 banks, exchanges, broker-dealers and buy-side organizations, and regulatory This cookie is used to store the user consent for the cookies in the category "Other". Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. largest global banks as they collaborate to detect financial crimes to support law enforcement investigations. Blogs. in this communication include, among other things, statements about the potential benefits of the proposed transaction, Nasdaqs plans, objectives, expectations and intentions, the financial condition, results of operations and business of 1 Includes the impact of the acquisition of Verafin +19% YoY increase $1,871M Annualized recurring revenue 4Q21 Progress on Key Metrics Confirm our Confidence in our Strategy 7 Solutions Segments.
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