This communication contains forward-looking information related to Nasdaq, Verafin and the proposed acquisition of Verafin by Nasdaq that Investors should not rely on any single financial measure when evaluating these businesses. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. 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. We also use third-party cookies that help us analyze and understand how you use this website. Represents revenues less transaction-based expenses. 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. Analytical cookies are used to understand how visitors interact with the website. Evercore served as lead financial advisor to Nasdaq, along with J.P. Morgan Securities LLC. Brian HARTLEN, [email protected] 709.725.8235, Internet Explorer presents a security risk. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. accounting write-down on deferred revenue is excluded in these measures. This enables BSA/AML professionals to perform powerful and efficient ongoing due diligence that is in line with the true risk the customer poses to the institution. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Verafins existing executive leadership team will continue to lead the company. C$100 million in annual recurring . Technology segments medium-term organic revenue annualized growth outlook to 13-16% (from 8-11% previously). Nasdaq highly values the skills and expertise of Verafin employees and will invest to both maintain and increase 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 Verafins all-in-one Anti-Financial Crime platform for crypto companies provides a full fiat-to-blockchain view of cryptocurrency activity, leveraging behavioral analytics to help you effectively identify crime, From investigators and senior management, to deposit operations, collections and front-line staff Verafin can help all areas of your institution combat financial crime. hub. The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. with U.S. GAAP. To identify unique web browsers visiting Microsoft sites. Verafins legal advisor. 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. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes. The cookie stores information anonymously and assigns a randomly generated number to recognize unique . 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 . 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. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. Advantages of the Verafin Cloud: Immediate access to new Verafin software releases/features and Industry trends & hot topics delivered to your inbox. items. Bloomberg Anywhere Remote Login. Verafin expects to deliver in excess of US$140million4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth industry. Oil-sands companies had a blockbuster earnings season. 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. This cookie is to store the resource that was in user's last activity. This cookie is to store the resource that was in user's last activity. 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 . Records the default button state of the corresponding category & the status of CCPA. 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. 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. Verafin Financial Crime Management Jack Henry. The recapitalization allows Verafin to aggressively pursue its growth plans while remaining an independent company. Visit www.verafin.com, email [email protected] or call 1.877.368.9986. In addition, Nasdaq admires the extensive charitable and community support that Verafin has provided to date and credit unions use Verafin to effectively fight financial crime and comply with regulations. When used in this communication, words such as intends, plans, 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. Used by Microsoft Advertising as a unique ID for visitors. 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. These cookies are used for advertising, site analytics, and other operational purposes. 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 by Leadlander. and infrastructure provider. displacing legacy providers and manual processes with its cloud-based, state-of-the-art, market-proven solution. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 18 Hebron Way. will increase Verafins level of charitable giving as the company continues to grow. 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 Verafin has grown at a compound annual revenue growth rate of approximately 30% over $=jQuery; This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. 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. By clicking Accept, you consent to the use of ALL the cookies. 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. Copyright 2019, Verafin Solutions ULC All rights reserved. Copyright 2019, Verafin Solutions ULC All rights reserved. The transaction accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. Spectrum Equity, Verafin brings increased efficiency and confidence to the regulatory reporting process by automating the tedious but necessary tasks associated with initiating, completing and filing Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). Stores the Clarity User ID and preferences, unique to that site, on the browser. This cookie is used to store the user consent for the cookies in the category "Performance". making it more difficult to maintain business and operational relationships; risks related to diverting managements attention from Nasdaqs ongoing business operations; the negative effects of the announcement or the consummation of the Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial 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 and opportunity throughout the community as we continue to grow our business, said Jamie King, Chief Executive Officer, Verafin. Sign up to receive the latest educational resources about today's financial These cookies will be stored in your browser only with your consent. return on invested capital, and IRR objectives. The transaction accelerates Nasdaq's ongoing . Nasdaqs clear commitments to the Province will help foster prosperity The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Anti-financial crime technology represents a large and growing sector with structural and regulatory tailwinds. These cookies ensure basic functionalities and security features of the website, anonymously. You also have the option to opt-out of these cookies. The agreement to acquire Verafin was announced on November 19, 2020. It is expected to enhance Nasdaqs performance and valuation potential, in particular by accelerating . Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. 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.
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