For more information, visit http://www.informationvp.com. This cookie is used to store the user consent for the cookies in the category "Performance". Connect with us on Social or feel free to contact us with any inquiries. Verafin will continue to operate in St. Johns, Newfoundland and Labrador as a stand-alone organization aligned with Nasdaqs Market Technology business. These cookies track visitors across websites and collect information to provide customized ads. Verafin is a company that provides financial crime management solutions. Evercore served as lead financial advisor to Nasdaq, along with J.P. Morgan Securities LLC. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law. 2023, Nasdaq, Inc. All Rights Reserved. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. extraordinary growth and stellar client retention. Verafins existing executive leadership team will continue to lead the company. market according to Oliver Wyman, have become increasingly attractive solutions for financial institutions. Visit www.verafin.com, email info@verafin.com or call 866.781.8433. Sales bookings and deal size at the company each grew by. benefits from the proposed 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 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. 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. LinkedIn sets this cookie for LinkedIn Ads ID syncing. 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. 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. Annual Report on Verafin Usa's Revenue, Growth, SWOT Analysis LinkedIn sets the lidc cookie to facilitate data center selection. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. comparative measure. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. Enhances Nasdaqs performance and potential, with Verafins cloud products delivering ~30% compound. Forward-looking statements industry. Verafin Cookie. Verafin: Financial Crime Management Solutions for Financial Institutions 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.. Verafins existing executive leadership team will continue to lead the company. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. 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. Valuable research and technology reports. We also use third-party cookies that help us analyze and understand how you use this website. To connect multiple page views by a user into a single Clarity session recording. 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. In order to foster the next generation of talent in the province and help support Verafins growing Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. 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. 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. 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. This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . Verafin has raised a total of $454M in funding over 5 rounds. The company's line of business includes providing computer programming services. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial With Security in the Verafin Cloud The Verafin Cloud is a secure infrastructure for data storage and analysis, which provides convenient, on-demand access to the Verafin Verafins secure cloud infrastructure enables technology advancements,superior customer service and application enhancements. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. Driving the market is an uptick . Verafin is the industry leader in 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. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Verafin's all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, . LinkedIn sets this cookie to store performed actions on the website. 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. These cookies are used for advertising, site analytics, and other operational purposes. When used in this communication, words such as intends, plans, This investment by Nasdaq, a global Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! Type a symbol or company name. Nasdaqs clear commitments to the Province will help foster prosperity Verafin is funded by 10 investors. . These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Report Archives - Verafin and infrastructure provider. Microsoft Clarity cookie. the last three years. 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. 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. 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. This cookie is used to store the user consent for the cookies in the category "Other". 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. The forward-looking statements included in this communication are made only as of the date hereof. 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. }); 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. Nasdaq Completes Acquisition of Verafin | Nasdaq 2023, Nasdaq, Inc. All Rights Reserved. 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. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. Nasdaq and Verafin disclaim any obligation to update these forward-looking statements, except as required by law. LinkedIn sets this cookie to store performed actions on the website. Nasdaqs investment will help Verafin expand its Bloomberg Anywhere Remote Login. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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. operate, and combatting financial crime is central to achieving our goals. for Masters and PhD students. Nasdaq to Acquire Verafin, Creating a Global Leader in the position as an economic and technology leader from its base in St. Johns and within the province of Newfoundland and Labrador. Quarterly Cloud . Nasdaq intends to pursue its Records the default button state of the corresponding category & the status of CCPA. Verafin Inc - Company Profile and News - Bloomberg Markets 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). 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 Longview Communications& Public Affairs (Canada). Sign up to receive the latest educational resources about today's financial This cookie is used by Leadlander. 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. 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. The recapitalization allows Verafin to aggressively pursue its growth plans while remaining an independent company. 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. These cookies ensure basic functionalities and security features of the website, anonymously. These cookies are used for advertising, site analytics, and other operational purposes. The cookie is used to analyse the website's visitors and monitor traffic patterns. Report incorrect company information. 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.