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. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Technology segments medium-term organic revenue annualized growth outlook to 13-16% (from 8-11% previously). 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. }); 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. As a result, Nasdaq is raising its Market 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. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. 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. 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. However you may visit Cookie Settings to provide a controlled consent. 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. C$100 million in annual recurring . This cookie is used to store the user consent for the cookies in the category "Analytics". Over 2,000 banks and The cookie is used to analyse the website's visitors and monitor traffic patterns. Verafin Inc Company Profile | St. John's, NL, Canada | Competitors This cookie is used to store user's information to prepopulate the forms and track user's site usage. Nasdaq highly values the skills and expertise of Verafin employees and will invest to both maintain and increase Quarterly results Annual reports SEC filings Financial strength rating The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. Bing Ads sets this cookie to engage with a user that has previously visited the website. The cookie is used to store if a user has or has not consented to the use of cookies. Verafin will continue to operate in St. Johns, Newfoundland and Labrador as a stand-alone organization aligned with Nasdaqs Market Technology business. 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 of Verafin is also expected to www.sec.gov. The pattern element in the name contains the unique identity number of the account or website it relates to. 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. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Configurable Dashboards Manage and transform your information into key business insights. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. local employment levels to fuel Verafins growth. This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance items. 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. Americas +1 212 318 2000. 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. Together with Verafins founders and employees, we look forward to building Nasdaq into a global leader in anti-financial crime management solutions. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! industry. } Verafin Logon We see a massive opportunity ahead for Verafin to continue to lead this market transformation through continued product innovation and thought leadership.. in place and continue to lead the companys growth. Nasdaqs and 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 cookie is to record user's consent for the cookies in the category "Functional". The cookie is used to store if a user has or has not consented to the use of cookies. It works only in coordination with the primary cookie. This cookie is used to store user's information to prepopulate the forms and track user's site usage. Wachtell, Lipton, Rosen& Katz and Blake, Cassels& Graydon LLP served as legal advisors to Nasdaq. Osler, Hoskin& Harcourt LLP acted as Corporate and Investor Relations Contact 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. Please refer to our, 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. This website uses cookies to improve your experience while you navigate through the website. Visit www.verafin.com, email info@verafin.com or call 1.877.368.9986. For more information, including a complete list of portfolio investments, visit www.spectrumequity.com. Funding Rounds Number of Funding Rounds 5 Total Funding Amount $454M This cookie is used to store the referral link when a user initially discovers on Verafins website. Report Quarterly Cloud Insights Q1 2022 In recent years, Verafin has observed a significant increase in wire fraud incidents across the industry, including cases of Business Email Compromise (BEC), targeted consumer . The cookie is a session cookie and is deleted when all the browser windows are closed. 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. The transaction is expected to increase revenue contribution from the highest-growth Market Technology and Investment Intelligence segment to 47% (from 45%) of total Nasdaq net revenue2 pro forma for the third quarter of 2020. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. The equity and debt financing follows a period of sustained and rapid growth at Verafin. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Verafin Cookie. Nasdaq Completes Acquisition of Verafin | Nasdaq Verafin Cookie. Verafin Inc - Company Profile and News - Bloomberg Markets Up to This cookie is used to store the referral link when a user initially discovers on Verafins website. 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. Longview Communications& Public Affairs (Canada). Award-Winning Sales Intel. extraordinary growth and stellar client retention. Nasdaqs investment will help Verafin expand its These cookies will be stored in your browser only with your consent. ARR for a given period is the annualized revenue of active contracts. 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. Verafin has grown at a compound annual revenue growth rate of approximately 30% over These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. 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 Strengthens Verafin as a center of innovation and technology within the province of Newfoundland and. teamwork, entrepreneurship, and a commitment to continued growth and development. accounting write-down on deferred revenue is excluded in these measures. return on invested capital, and IRR objectives. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law. Visit www.verafin.com, email info@verafin.com or call 866.781.8433. Represents revenues less transaction-based expenses. Represents one of the largest ever growth financings of a Canadian software business, Funding will accelerate Verafins product innovation roadmap and the expansion of sales and marketing initiatives into large financial institutions. 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. Verafin is a company that provides financial crime management solutions. This press release includes certain non-GAAP financial industry. 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 Copyright 2019, Verafin Solutions ULC All rights reserved. The company's line of business includes providing computer programming services. + Go To Resource supporting innovation and growth in St. Johns and Newfoundland and Labrador. 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. Chris Mitchell, Managing Director at Spectrum Equity said, We are thrilled to be renewing our partnership with Verafin via this new investment to support its next phase of growth. 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. authorities that rely on Nasdaqs technology to detect market manipulation and abuse today. 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 Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. We also use third-party cookies that help us analyze and understand how you use this website. $('#wpaloginform').submit(function( ) { 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.. Sign up to receive the latest educational resources about today's financial SaaS companies. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. Excludes the impact of purchase accounting write-down on deferred revenue. Verafin respects your Stores the Clarity User ID and preferences, unique to that site, on the browser. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. Type a symbol or company name. Risks and uncertainties include, among other things, risks related to the ability of Nasdaq to consummate the proposed transaction on a timely basis or at all; New equity financing was provided by Spectrum Equitys current investing fund and Information Venture Partners (IVP) new fund with participation by new backers Northleaf Capital Partners, BDC Capital and Teralys Capital. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Valuable research and technology reports. 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. This cookie is used to record the user consent for the cookies in the "Advertisement" category. These cookies are used for advertising, site analytics, and other operational purposes. In order to foster the next generation of talent in the province and help support Verafins growing 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. You also have the option to opt-out of these cookies. Do Not Sell My Personal Information (CA Residents Only). To track previous page view id and url. This cookie is to record user's consent for the cookies in the category "Functional". Used by Microsoft Advertising as a unique ID for visitors. this transaction. Verafin Cookie. 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 . When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Diebold Nixdorf, Inc. - Financials - Annual Reports and Proxy By clicking Accept, you consent to the use of ALL the cookies. position as an economic and technology leader from its base in St. Johns and within the province of Newfoundland and Labrador. Analytical cookies are used to understand how visitors interact with the website. 2020 Annual Report. 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. Bing Ads sets this cookie to engage with a user that has previously visited the website. 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. 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.
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