This will include an investment in a new US$1million R&D partnership project with The Genesis Centre, Newfoundland and Labradors pre-eminent innovation The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . Looking ahead, Verafins capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaqs technology to detect market manipulation and abuse. in place and continue to lead the companys growth. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. Verafin is funded by 10 investors. Additional financial terms were not disclosed. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law. This cookie is used to store the referral link when a user initially discovers on Verafins website. $('#wpaloginform').submit(function( ) { 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. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. Verafin Cookie. These cookies are used for advertising, site analytics, and other operational purposes. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Contact Email info@verafin.com. Annual Report on Verafin Usa's Revenue, Growth, SWOT Analysis Sign up to receive the latest educational resources about today's financial Microsoft Clarity cookie. The cookie is used to analyse the website's visitors and monitor traffic patterns. Evercore served as lead financial advisor to Nasdaq, along with J.P. Morgan Securities LLC. Verafin - Funding, Financials, Valuation & Investors In order to foster the next generation of talent in the province and help support Verafins growing 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. 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. supporting innovation and growth in St. Johns and Newfoundland and Labrador. LinkedIn sets the lidc cookie to facilitate data center selection. 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. Verafin provides a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. 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. Strengthens Verafin as a center of innovation and technology within the province of Newfoundland and. Report incorrect company information. Articles, Webinars, White Papers and more. Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! This cookie is to store the resource that was in user's last activity. This press release includes certain non-GAAP financial Asia Pacific +65 6212 1000. 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. The acquisition would value Verafin at more than $3.5 billion, and boost Nasdaq's position in the data-intelligence market. alert("Please enter your email address"); To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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 will, believes, expected, projected and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Analytical cookies are used to understand how visitors interact with the website. Nasdaq also received financial advice from BofA Securities, Goldman We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. This website uses cookies to improve your experience while you navigate through the website. We look forward to working with Jamie and the rest of the Verafin team to continue to support their product-innovation led go-to-market strategy that has enabled the Companys explosive growth., Dave Unsworth, General Partner at IVP added, Verafin is in the very early innings of its mission to create the worlds most effective crime fighting network. Verafins existing executive leadership team will continue to lead the company. 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. 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. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. For more information, visit http://www.informationvp.com. with U.S. GAAP. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. 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 Accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider. This cookie is used to store the user consent for the cookies in the category "Other". 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. Bloomberg Anywhere Remote Login. Connect with us on Social or feel free to contact us with any inquiries. Last Funding Type Private Equity. 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. The cookie is a session cookie and is deleted when all the browser windows are closed. Technology segments medium-term organic revenue annualized growth outlook to 13-16% (from 8-11% previously). This communication contains forward-looking information related to Nasdaq, Verafin and the proposed acquisition of Verafin by Nasdaq that These cookies track visitors across websites and collect information to provide customized ads. Visit www.verafin.com, email info@verafin.com or call 866.781.8433. Document - SEC LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Houlihan Lokey served as the financial advisor to Verafin. Verafin Usa's Annual Report & Profile shows critical firmographic facts: What is the company's size? 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. Looking ahead, Verafins capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaqs technology to detect market manipulation and abuse. Nasdaq believes presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. 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. Verafin Company Profile | Management and Employees List - Datanyze We also use third-party cookies that help us analyze and understand how you use this website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. At the time, Verafin CEO Jamie King said the windfall would allow the companythe biggest tech firm in the provinceto keep growing while remaining independent. LinkedIn sets this cookie to remember a user's language setting. Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial The financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. 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. This SHARE PURCHASE AGREEMENT (this "Agreement"), dated as of November 18, 2020, is made by and among Nasdaq, Inc., a Delaware corporation ("Parent"), Osprey Acquisition Corporation, a corporation existing under the CBCA and a wholly owned subsidiary of Parent ("Buyer" and collectively with Parent, "Buyer Parties"), Verafin Holdings Inc., a corporation existing under the CBCA . Used by Microsoft Advertising as a unique ID for visitors. Verafin is the 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 . The acquisition of Verafin is expected to deliver EPS accretion beginning in 2022 and meet Nasdaqs ROIC, or 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. authorities that rely on Nasdaqs technology to detect market manipulation and abuse today. Verafin has grown at a compound annual revenue growth rate of approximately 30% over Up to Stores the Clarity User ID and preferences, unique to that site, on the browser. Verafin Logon Verafin now offers an all-in-one Anti-Financial Crime Platform for, Automating for Efficiency in your BSA/AML and Fraud Program, Navigating the Rising Challenge of Human Trafficking, Financial Crime Management for Credit Unions, Quarterly Cloud Insights Uncovered Q1 2023, Verafin Financial Crime Management iCore360. Visit www.verafin.com, email info@verafin.com or call 1.877.368.9986. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. 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. Automation and vendor solutions, a US$13billion Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. 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. Necessary cookies are absolutely essential for the website to function properly. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Senior debt financing for the transaction was led by Wells Fargo Capital Finance and included Scotiabank in the syndicate. 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 Robert WEBB, robert.webb@verafin.com 709.752.3050 ext. ET, Nasdaq will host a webcast presentation to discuss the transaction. Diebold Nixdorf, Inc. - Financials - Annual Reports and Proxy 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. well as future charges or reversals outside of the normal course of business. 2023, Nasdaq, Inc. All Rights Reserved. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Tel. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. documents will be available at the companys Investor Relations website, http://ir.nasdaq.com/investor-relations. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Income Statement Trend Summary and GAAP to Non-GAAP Reconciliation, Read our 2021 Sustainability Report, TCFD Report, and GRI, SASB, and WEF Indexes. Do Not Sell My Personal Information (CA Residents Only). Copy and paste multiple symbols separated by spaces. 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. 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. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. These cookies ensure basic functionalities and security features of the website, anonymously. Sales bookings and deal size at the company each grew by. See the bigger picture with reporters and industry experts in subscriber-exclusive events. 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. But opting out of some of these cookies may have an effect on your browsing experience. This investment by Nasdaq, a global industry. Verafin respects your Sign up to receive the latest educational resources about today's financial involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Excludes the impact of purchase accounting write-down on deferred revenue. Verafin has grown at a compound annual revenue growth rate of approximately 30% over the last three years. The forward-looking statements included in this communication are made only as of the date At the time, we were talking. Compare how recession-proof Verafin Usa is relative to the industry overall. This cookie is used to store the referral link when a user initially discovers on Verafins website. To connect multiple page views by a user into a single Clarity session recording. 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. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies.