The acquisition of Verafin is expected to deliver EPS accretion beginning in 2022 and meet Nasdaqs ROIC, or Verafins innovative fraud and AML detection platform, combined with Nasdaqs. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a comparative measure. Heres a closer look at the factors driving the dealand whos set to profit should the acquisition go through. 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. These cookies track visitors across websites and collect information to provide customized ads. You also have the option to opt-out of these cookies. Quarterly Cloud . pioneer in anti-financial crime management solutions, today announced that they have entered into a definitive agreement for Nasdaq to acquire Verafin for US$2.75billion in cash, subject to customary adjustments. Sales bookings and deal size at the company each grew by. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Do Not Sell My Personal Information (CA Residents Only). 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. A reconciliation of non-GAAP forward looking information to their corresponding GAAP measures When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. Verafins products are powered by intelligent analytics and leverage machine learning, robust shared data The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. READ MORE 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 . Verafin Inc - Company Profile and News - Bloomberg Markets Nasdaq is now updating its outlook for the organic growth in non-GAAP operating expenses over the medium-term to 3-6% up from the 2-4% amount previously announced, reflecting the strong growth expectations of Verafin and our combined anti-financial crime technology offering. 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 This cookie is used by Leadlander. This cookie is to record user's consent for the cookies in the category "Functional". 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. Verafin Logon Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. These cookies are used for advertising, site analytics, and other operational purposes. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Nasdaq Completes Acquisition of Verafin | Nasdaq 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. Wachtell, Lipton, Rosen& Katz and Blake, Cassels& Graydon LLP served as legal advisors to Nasdaq. The cookie is used to analyse the website's visitors and monitor traffic patterns. 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 the lidc cookie to facilitate data center selection. 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. return on invested capital, and IRR objectives. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. 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. Financials | Markel Corp. This cookie is used to store the user consent for the cookies in the category "Necessary". The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. However you may visit Cookie Settings to provide a controlled consent. It works only in coordination with the primary cookie. 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 measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Verafin and YayPay. 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. Their latest funding was raised on Sep 25, 2019 from a Private Equity round. By clicking Accept, you consent to the use of ALL the cookies. The pattern element in the name contains the unique identity number of the account or website it relates to. This cookie is used to store the user consent for the cookies in the category "Performance". LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Verafin provides artificial intelligence and machine learning to give you the ability to quickly uncover illicit activity, along with solutions to strengthen your end-to-end BSA/AML compliance program. 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. NEW YORK and ST. JOHN'S, 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.The agreement to acquire Verafin was announced on November 19, 2020.. Robert WEBB, robert.webb@verafin.com 709.752.3050 ext. 2020 Annual Report. LinkedIn sets this cookie to remember a user's language setting. William Blair& Company acted as financial advisor to Verafin in connection with the transaction. Verafin Completes C$515 Million Equity and Debt Recapitalization This cookie is used to store the referral link when a user initially discovers on Verafins website. Verafin Cookie. Verafin's. 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. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. 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. Driving the market is an uptick . Microsoft Clarity cookie. Verafins research and development. 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). These documents are also available under the Investor Relations section of Nasdaq s website at http://ir.nasdaq.com/investor-relations. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. LinkedIn sets this cookie for LinkedIn Ads ID syncing. Verafin respects your Our intelligent risk categorization approach identifies, segments, stratifies and actively monitors ongoing high-risk customer activity. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. displacing legacy providers and manual processes with its cloud-based, state-of-the-art, market-proven solution. Longview Communications& Public Affairs (Canada). These cookies ensure basic functionalities and security features of the website, anonymously. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. We also use third-party cookies that help us analyze and understand how you use this website. Nasdaq and Verafin believe that these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Verafins financial condition and results of operations. The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. Nasdaq buying N.L. online security company Verafin in $2.75B US deal - CBC 18 Hebron Way. documents will be available at the companys Investor Relations website, http://ir.nasdaq.com/investor-relations. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! Necessary cookies are absolutely essential for the website to function properly. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. Verafin has grown at a compound annual revenue growth rate of approximately 30% over Nasdaq intends to pursue its
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