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. and Chief Executive Officer, Nasdaq. Excludes the impact of purchase accounting write-down on deferred revenue. Verafin is a company that provides financial crime management solutions. Articles, Webinars, White Papers and more. 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 When used in this communication, words such as intends, plans, $('#wpaloginform label[for="user_email_username"]').text("Enter your email address"); 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. Nasdaq intends to pursue its Nasdaq believes that its deep relationships with the majority of leading Tier 1 and Tier 2 banks globally will accelerate Verafins strategy of Copy and paste multiple symbols separated by spaces. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. 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. 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. Verafin respects your LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. This cookie is to record user's consent for the cookies in the category "Functional". But opting out of some of these cookies may have an effect on your browsing experience. It is expected to close in the first quarter of 2021. The acquisition of Verafin is expected to deliver EPS accretion beginning in 2022 and meet Nasdaqs ROIC, or 2023, Nasdaq, Inc. All Rights Reserved. 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; The pattern element in the name contains the unique identity number of the account or website it relates to. Copyright 2019, Verafin Solutions ULC All rights reserved. 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. Records the default button state of the corresponding category & the status of CCPA. This financing round with our long-term partners Spectrum Equity and IVP allows Verafin to accelerate our investments in product innovation and customer success, and continue our progress in market penetration of larger financial institutions, said Jamie King, CEO of Verafin. In order to foster the next generation of talent in the province and help support Verafins growing hub. More than 1,200 credit unions use Verafin to effectively fight financial crime and comply with . Together with Nasdaq, we will be a clear leader in expanding the fight against illicit finance by delivering our capabilities to a global client base from our Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. This cookie is used to record the user consent for the cookies in the "Advertisement" category. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. Records the default button state of the corresponding category & the status of CCPA. The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. 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. At the time, we were talking. Verafin has enjoyed tremendous growth in recent years, and its long-term vision of fighting financial crime through collaboration and cross-institutional analysis is fast becoming the industry standard for fraud detection and anti-money laundering (AML) regulatory compliance. 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. Verafin Inc. Website. This cookie is to record user's consent for the cookies in the category "Functional". This cookie is used to store the user consent for the cookies in the category "Necessary". This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance } Vice President, Financial Planning & Analysis, Bsa & Anti-Money Laundering Head of Product Management. For purposes of providing the pro-forma impact of the Verafin acquisition, Verafins forecasted results are included and the impact of purchase These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. 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 Connect with us on Social or feel free to contact us with any inquiries. This cookie is used to store the user consent for the cookies in the category "Performance". 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. Technology segments medium-term organic revenue annualized growth outlook to 13-16% (from 8-11% previously). "Bloomberg Opinion" columnists offer their opinions on issues in the news. 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. scalable, subscription revenue.. Verafin's. Robert WEBB, robert.webb@verafin.com 709.752.3050 ext. Visit www.verafin.com, email info@verafin.com or call 866.781.8433. Sales bookings and deal size at the company each grew by. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. These cookies ensure basic functionalities and security features of the website, anonymously. industry. . Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. This cookie is to store the resource that was in user's last activity. We also use third-party cookies that help us analyze and understand how you use this website. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive You also have the option to opt-out of these cookies. 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. 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. supporting innovation and growth in St. Johns and Newfoundland and Labrador. 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. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Valuable research and technology reports. Criminals perform illicit activity across multiple transaction channels and numerous financial institutions. These cookies will be stored in your browser only with your consent. Analytical cookies are used to understand how visitors interact with the website. Crossing Boundaries: The Expansive Threat of BEC, Do Not Sell My Personal Information (CA Residents Only). Advantages of the Verafin Cloud: Immediate access to new Verafin software releases/features and Industry trends & hot topics delivered to your inbox. Refer to the non-GAAP information section of this release for a This cookie is used to store user's information to prepopulate the forms and track user's site usage. 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. Nasdaq also received financial advice from BofA Securities, Goldman Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. 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. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. this transaction. 1 Includes the impact of the acquisition of Verafin +19% YoY increase $1,871M Annualized recurring revenue 4Q21 Progress on Key Metrics Confirm our Confidence in our Strategy 7 Solutions Segments. This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. 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 . Founders Brendan Brothers, Jamie King, Raymond Pretty. 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. and infrastructure provider. headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. Nasdaqs clear commitments to the Province will help foster prosperity We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. 1.866.781.8433. This cookie is used to store the user consent for the cookies in the category "Performance". These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. This investment by Nasdaq, a global The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. On Thursday, November19, 2020 at 8:00 a.m. 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. This cookie is used to store the referral link when a user initially discovers on Verafins website. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. 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. demands innovative action. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. This press release includes certainnon-GAAPfinancial measures, including organic revenue growth and non-GAAP operating expenses. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. As a result, Nasdaq is raising its Market 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. Verafin is funded by 10 investors. local employment levels to fuel Verafins growth. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. industry. These cookies are used for advertising, site analytics, and other operational purposes. Used by Microsoft Advertising as a unique ID for visitors. 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. 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. Our intelligent risk categorization approach identifies, segments, stratifies and actively monitors ongoing high-risk customer activity. 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 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. $=jQuery; for Masters and PhD students. LinkedIn sets the lidc cookie to facilitate data center selection. This website uses cookies to improve your experience while you navigate through the website. Brian HARTLEN, brian.hartlen@verafin.com 709.725.8235, Internet Explorer presents a security risk. Represents revenues less transaction-based expenses. 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. Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. You also have the option to opt-out of these cookies. Do Not Sell My Personal Information (CA Residents Only). We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. The forward-looking statements included in this communication are made only as of the date hereof. 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 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. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. 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. Contact Email info@verafin.com. 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". NEW YORK, ST. JOHNS, Nov. 19, 2020 (GLOBE NEWSWIRE) Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, and Verafin, an industry This cookie is used to store user's information to prepopulate the forms and track user's site usage. Verafin will continue to operate in St. Johns, Newfoundland and Labrador as a stand-alone organization aligned with Nasdaqs Market Technology business. 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. The pattern element in the name contains the unique identity number of the account or website it relates to. Type a symbol or company name. 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. However you may visit Cookie Settings to provide a controlled consent. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. This cookie is used to store the user consent for the cookies in the category "Analytics". The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Spectrum Equity, This cookie is used to store the user consent for the cookies in the category "Necessary". 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. We see a massive opportunity ahead for Verafin to continue to lead this market transformation through continued product innovation and thought leadership.. definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. 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.

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