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. Americas +1 212 318 2000. 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. $('#wpaloginform').submit(function( ) { 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. 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. These cookies track visitors across websites and collect information to provide customized ads. 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. items. investment grade ratings. Together with Verafins founders and employees, we look forward to building Nasdaq into a global leader in anti-financial crime management solutions. Verafins approach includes big data intelligence, visual storytelling and collaborative investigations to help institutions stay a step ahead of regulatory change and financial crime. Verafins comprehensive suite of anti-financial crime management products with Nasdaqs reach and established regulatory technology leadership to create a global SaaS leader in the fight against financial crime, a worldwide problem that 2020 Annual Report. 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. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law. 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 Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. To connect multiple page views by a user into a single Clarity session recording. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. The agreement to acquire Verafin was announced on November 19, 2020. Verafin is the industry leader in 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. Advantages of the Verafin Cloud: Immediate access to new Verafin software releases/features and Industry trends & hot topics delivered to your inbox. 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. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. 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. Verafin Cookie. Sales bookings and deal size at the company each grew by. displacing legacy providers and manual processes with its cloud-based, state-of-the-art, market-proven solution. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a comparative measure. Copyright 2019, Verafin Solutions ULC All rights reserved. operate, and combatting financial crime is central to achieving our goals. Here's a list of some of the top trending technologies and APIs used by Verafin. These measures are not in accordance with, or an alternative to, U.S. GAAP, and LinkedIn sets the lidc cookie to facilitate data center selection. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Microsoft Clarity cookie. this transaction. The recapitalization allows Verafin to aggressively pursue its growth plans while remaining an independent company. LinkedIn sets this cookie to remember a user's language setting. 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 These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. To connect multiple page views by a user into a single Clarity session recording. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. 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. Who is Verafin? Legal Name Verafin Inc. Company Type For Profit. 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. This press release includes certain non-GAAP financial This cookie is used to store user's information to prepopulate the forms and track user's site usage. 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. This cookie is used to store the user consent for the cookies in the category "Necessary". insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. 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. largest global banks as they collaborate to detect financial crimes to support law enforcement investigations. involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. session and campaign data and also keeps track of site usage for the site's analytics report. You also have the option to opt-out of these cookies. 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. hereof. 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. Breaking down Nasdaq's US$2.75-billion deal for Newfoundland tech 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. 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.. 2021 Proxy Statement. To track previous page view id and url. . The cookie is used to analyse the website's visitors and monitor traffic patterns. This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, Nasdaq also received financial advice from BofA Securities, Goldman To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Verafin has raised a total of $454M in funding over 5 rounds. comparative measure. if(!$('#wpaloginform #user_email_username').val()) { headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Financials | Markel Corp. discussion of this and other non-GAAP measures. This cookie is used to record the user consent for the cookies in the "Advertisement" category. 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 . 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 Verafin raised a total of $422.2 M in funding over 3 rounds. 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 forward-looking statements included in this communication are made only as of the date making it more difficult to maintain business and operational relationships; risks related to diverting managements attention from Nasdaqs ongoing business operations; the negative effects of the announcement or the consummation of the LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. A prior IVP fund provided initial venture capital financing for Verafin in 2009, and a prior Spectrum Equity fund led a substantial growth equity financing in 2014. Nasdaqs organic growth calculation methodology normally excludes acquired businesses from the measure until they have been part of Nasdaq for a full 12-month period. alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. "Bloomberg Opinion" columnists offer their opinions on issues in the news. will, believes, expected, projected and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. 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. Links to the webcast and accompanying 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. ARR does not have any standardized and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. $=jQuery; Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, Ethoca, GoodRx, Grubhub, Lynda.com, Origami Risk, RiskMetrics, SurveyMonkey and World-Check. privacy. Articles, Webinars, White Papers and more. For purposes of providing the pro-forma impact of the Verafin acquisition, Verafins forecasted results are included and the impact of purchase William Blair& Company acted as financial advisor to Verafin in connection with the transaction. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Configurable Dashboards Manage and transform your information into key business insights. Analytical cookies are used to understand how visitors interact with the website. Software Updates. Information Venture Partners is a Toronto-based team of experienced venture capital investors that focus on early-stage companies in B2B FinTech and Enterprise SaaS. 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. This cookie is used to record the user consent for the cookies in the "Advertisement" category. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. To connect multiple page views by a user into a single Clarity session recording. These symbols will be available throughout the site during your session. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. The anti-financial-crime sector is a US$12.5-billion industry expected to see a compound annual growth rate of about 17 per cent from now until 2024, according to the investor report. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive The transaction accelerates Nasdaq's ongoing . This investment by Nasdaq, a global Verafin's all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, . $('#wpaloginform label[for="user_email_username"]').text("Enter your email address"); 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. Verafin has grown at a compound annual revenue growth rate of approximately 30% over We also use third-party cookies that help us analyze and understand how you use this website. This cookie is to record user's consent for the cookies in the category "Functional". Great journalism delivered straight to your inbox. To track previous page view id and url. This documentary-style series follows investigative journalists as they uncover the truth. Verafins managements use certain of these non-GAAP measures to compare Nasdaqs and Verafins performance to that of prior periods for trend analyses and for budgeting and planning purposes. These cookies ensure basic functionalities and security features of the website, anonymously. 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. The pattern element in the name contains the unique identity number of the account or website it relates to. Records the default button state of the corresponding category & the status of CCPA. Verafin Cookie. Verafin Cookie. authorities that rely on Nasdaqs technology to detect market manipulation and abuse today. 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 cookie is to record user's consent for the cookies in the category "Functional". The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. LinkedIn sets the lidc cookie to facilitate data center selection. LinkedIn sets this cookie for LinkedIn Ads ID syncing. 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 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,. Verafin - Crunchbase Company Profile & Funding Excludes the impact of purchase accounting write-down on deferred revenue. Combines Nasdaqs global reach and established regulatory technology leadership with. 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. These cookies ensure basic functionalities and security features of the website, anonymously. supporting innovation and growth in St. Johns and Newfoundland and Labrador. Brian HARTLEN, brian.hartlen@verafin.com 709.725.8235, Internet Explorer presents a security risk. 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 cookie is to store the resource that was in user's last activity. 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. You also have the option to opt-out of these cookies. Tel. Form 10-K | Investor.gov Articles, Webinars, White Papers and more. Verafin analyzes customer activity across multiple transaction channels, providing you with robust alerts that highlight a wide range of fraudulent scenarios and protect you against fraudsters targeting your institution and customers. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. 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. 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. Visit www.verafin.com, email info@verafin.com or call 866.781.8433. Investigator for anti-money laundering (AML). Nasdaq and Verafin believe that these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Verafins financial condition and results of operations. Automation and vendor solutions, a US$13billion may be different from non-GAAP measures used by other companies. The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. Verafin Company Profile - Office Locations, Competitors, Financials Diebold Nixdorf, Inc. - Financials - Annual Reports and Proxy 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 acquisition strengthens Nasdaqs 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. 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. 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. Additional financial terms were not disclosed. Verafin's quiet, huge success: Canada's largest venture funding deal We see a massive opportunity ahead for Verafin to continue to lead this market transformation through continued product innovation and thought leadership.. This cookie is used by Leadlander. Further information on these and other risks and uncertainties relating to Nasdaq can be found in its 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. 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. Income Statement Trend Summary and GAAP to Non-GAAP Reconciliation, Read our 2021 Sustainability Report, TCFD Report, and GRI, SASB, and WEF Indexes. VERAFIN - Massachusetts Bankers Association Home Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. READ MORE Manage Products and Account Information. Over 2,000 banks and When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Analytical cookies are used to understand how visitors interact with the website. These cookies will be stored in your browser only with your consent. 18 Hebron Way. Verafin uses artificial intelligence and machine learning for cross-institutional, multi-channel analysis to show you truly unusual activity with a single alert, saving you time and providing you with the information you need to decide how to proceed. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. 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.. SaaS companies. These cookies are used for advertising, site analytics, and other operational purposes. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday. 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. relationships, operating results, and business generally. Accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider. 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