The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. This cookie is used to store the user consent for the cookies in the category "Performance". Copyright 2019, Verafin Solutions ULC All rights reserved. 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 In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a comparative measure. industry. For more information, visit http://www.informationvp.com. The annual report on Form 10-K provides a comprehensive overview of the company's business and financial condition and includes audited financial statements. www.sec.gov. Brian HARTLEN, brian.hartlen@verafin.com 709.725.8235, Internet Explorer presents a security risk. This website uses cookies to improve your experience while you navigate through the website. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive Scotiabank and BDC Venture Capital are the most recent investors. Verafin will continue to operate in St. Johns, Newfoundland and Labrador as a stand-alone organization aligned with Nasdaqs Market Technology business. LinkedIn sets this cookie for LinkedIn Ads ID syncing. Stores the Clarity User ID and preferences, unique to that site, on the browser. "Bloomberg Opinion" columnists offer their opinions on issues in the news. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. Verafin's all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, . These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. 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. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. 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. Verafin respects your D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! Verafins approach includes big data intelligence, visual storytelling and collaborative investigations to help institutions stay a step ahead of regulatory change and financial crime. During this time, the Company has achieved many financial and operational milestones: We are very excited to begin this new phase of Verafins journey. Heres a closer look at the factors driving the dealand whos set to profit should the acquisition go through. This cookie is used to store the user consent for the cookies in the category "Necessary". session and campaign data and also keeps track of site usage for the site's analytics report. 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 These cookies ensure basic functionalities and security features of the website, anonymously. Driving the market is an uptick . 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. 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. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Labrador and an economic leader in St. Johns. Verafin emphasizes a holistic approach to eradicating financial crime and its platform supports a consortium of several of the This cookie is used to record the user consent for the cookies in the "Advertisement" category. This cookie is to record user's consent for the cookies in the category "Functional". Osler, Hoskin& Harcourt LLP acted as Combines Nasdaqs global reach and established regulatory technology leadership with. 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 The financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. 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. Verafins existing executive leadership team will continue to lead the company. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. These cookies track visitors across websites and collect information to provide customized ads. 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. 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. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. a leading growth equity investor based in Boston and San Francisco, and Information Venture Partners, a leading FinTech-focused venture capital firm based in Toronto, both significant investors in Verafin, have agreed to sell their stake as part of The cookie is used to analyse the website's visitors and monitor traffic patterns. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. Last Funding Type Private Equity. privacy. Microsoft Clarity cookie. Bing Ads sets this cookie to engage with a user that has previously visited the website. This cookie is to record user's consent for the cookies in the category "Functional". Verafin has grown at a compound annual revenue growth rate of approximately 30% over the last three years. 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. privacy. 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 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. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. This cookie is used by Leadlander. Necessary cookies are absolutely essential for the website to function properly. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a Investigator for anti-money laundering (AML). 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. This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance + Go To Resource Bloomberg Anywhere Remote Login. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. See the bigger picture with reporters and industry experts in subscriber-exclusive events. These cookies track visitors across websites and collect information to provide customized ads. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. services enables clients to optimize and execute their business vision with confidence. 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. 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 windfall would allow the companythe biggest tech firm in the provinceto keep growing while remaining independent. The company's line of business includes providing computer programming services. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. This will include an investment in a new US$1million R&D partnership project with The Genesis Centre, Newfoundland and Labradors pre-eminent innovation industry. The Logic 2023 The Logic Inc. All Rights Reserved. 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 agreement to acquire Verafin was announced on November 19, 2020. For purposes of providing the pro-forma impact of the Verafin acquisition, Verafins forecasted results are included and the impact of purchase 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. 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.
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