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You also have the option to opt-out of these cookies. Ex-99.1 The transaction meets all of Nasdaqs acquisition investment criteria: Verafin is a strong strategic and cultural fit, accelerating Nasdaqs evolution into a technology, analytics Do Not Sell My Personal Information (CA Residents Only). A reconciliation of non-GAAP forward looking information to their corresponding GAAP measures Verafin has grown at a compound annual revenue growth rate of approximately 30% over the last three years. This communication contains forward-looking information related to Nasdaq,Verafinand the acquisition ofVerafinby Nasdaq that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. The equity and debt financing follows a period of sustained and rapid growth at Verafin. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. The company's line of business includes providing computer programming services. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. Sign up to receive the latest educational resources about today's financial Links to the webcast and accompanying This cookie is used to record the user consent for the cookies in the "Advertisement" category. Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . 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Here's a list of some of the top trending technologies and APIs used by Verafin. 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 information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance with U.S. GAAP. The cookie is a session cookie and is deleted when all the browser windows are closed. Tel. Great journalism delivered straight to your inbox. Driving the market is an uptick . Used by Microsoft Advertising as a unique ID for visitors. 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 cookie is used to record the user consent for the cookies in the "Advertisement" category. industry. will, believes, expected, projected and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Nasdaq or Verafin, and the anticipated timing of closing of the proposed transaction. 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. The financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. Nasdaq 4Q21 Quarterly Update Verafin will continue to operate in St. Johns, Newfoundland and Labrador as a stand-alone organization aligned with Nasdaqs Market Technology business. The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. Also, cash aggregation reports from the financial institution's core system used to identify needed CTRs would not be considered a model. 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. For more information, including a complete list of portfolio investments, visit www.spectrumequity.com. Award-Winning Sales Intel. 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. 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. Analytical cookies are used to understand how visitors interact with the website. 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. Phone Number 877.368.9986. Microsoft Clarity cookie. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. 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. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Verafin's all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, . 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 Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. 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. Blogs. In addition, Nasdaq admires the extensive charitable and community support that Verafin has provided to date and Verafin Cookie. It works only in coordination with the primary cookie. Create your Watchlist to save your favorite quotes on Nasdaq.com. LinkedIn sets this cookie for LinkedIn Ads ID syncing. market according to Oliver Wyman, have become increasingly attractive solutions for financial institutions. 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. 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. Verafin is the industry leader in Verafin: Financial Crime Management Solutions for Financial Institutions But opting out of some of these cookies may have an effect on your browsing experience. Verafins results will be reported within Nasdaqs Market Technology segment. The agreement to acquire Verafin was announced on November 19, 2020. Records the default button state of the corresponding category & the status of CCPA. These symbols will be available throughout the site during your session. This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance To identify unique web browsers visiting Microsoft sites. 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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; 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. Verafin Inc was founded in 2003. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a comparative measure. Get a D&B Hoovers Free Trial. ET, Nasdaq will host a webcast presentation to discuss the transaction. insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients. Verafins existing executive leadership team will continue to lead the company. You can withdraw your consent at anytime. 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. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. At the core of Nasdaqs mission, we champion fairness and integrity in the markets that we build and in the broader financial ecosystem in which we Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. 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. The cookie is a session cookie and is deleted when all the browser windows are closed. 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 It offers fraud detection, anti-money laundering, high-risk customer management, online account takeover detection, and other solutions. When used in this communication, words such as will, believes, can and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. This cookie is used to store the user consent for the cookies in the category "Performance". Verafin respects your 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. These cookies are used for advertising, site analytics, and other operational purposes. . Verafin Inc Company Profile | St. John's, NL, Canada | Competitors Nasdaq also received financial advice from BofA Securities, Goldman Compare how recession-proof Verafin Usa is relative to the industry overall. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. The pattern element in the name contains the unique identity number of the account or website it relates to. Breaking down Nasdaq's US$2.75-billion deal for Newfoundland tech The cookie is used to store if a user has or has not consented to the use of cookies. definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. 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. Verafin Company Profile | Management and Employees List - Datanyze We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. We also use third-party cookies that help us analyze and understand how you use this 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. Nasdaq to Acquire Verafin, Creating a Global Leader in the Robert WEBB, robert.webb@verafin.com 709.752.3050 ext. This cookie is used to store the user consent for the cookies in the category "Analytics". scalable, subscription revenue.. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Osler, Hoskin& Harcourt LLP acted as Verafin Company Profile - Office Locations, Competitors, Financials Sachs& Co. LLC, Morgan Stanley and TD Securities. Bing Ads sets this cookie to engage with a user that has previously visited the website. items. But opting out of some of these cookies may have an effect on your browsing experience. 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. It works only in coordination with the primary cookie. St. John's, NL A1A 0L9. Longview Communications& Public Affairs (Canada). These cookies ensure basic functionalities and security features of the website, anonymously. Last Funding Type Private Equity. Criminals perform illicit activity across multiple transaction channels and numerous 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 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. Over 2,000 banks and Software Updates. 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 (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. 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. Configurable Dashboards Manage and transform your information into key business insights. market. 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. Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests. 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. 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. 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. with U.S. GAAP. Necessary cookies are absolutely essential for the website to function properly. Diebold Nixdorf, Inc. - Financials - Annual Reports and Proxy