These measures are not in accordance with, or an alternative to, U.S. GAAP, and may be different fromnon-GAAPmeasures used by other companies. 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. This combination meaningfully accelerates the evolution of our business mix toward highly well as future charges or reversals outside of the normal course of business. Verafin is funded by 10 investors. These cookies are used for advertising, site analytics, and other operational purposes. Founders Brendan Brothers, Jamie King, Raymond Pretty. Verafin is a company that provides financial crime management solutions. Together with Verafins founders and employees, we look forward to building Nasdaq into a global leader in anti-financial crime management solutions. 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. 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. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. The company's line of business includes providing computer programming services. Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. You can withdraw your consent at anytime. return on invested capital, and IRR objectives. Quarterly results Annual reports SEC filings Financial strength rating 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. These cookies will be stored in your browser only with your consent. It works only in coordination with the primary cookie. 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 Management uses thisnon-GAAPinformation internally, along with U.S. GAAP information, in evaluating our performance and in making financial and operational decisions. Investigator for anti-money laundering (AML). Tel. 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. NEW YORK, ST. JOHNS, Nov. 19, 2020 (GLOBE NEWSWIRE) Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, and Verafin, an industry Records the default button state of the corresponding category & the status of CCPA. Ex-99.1 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 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. market according to Oliver Wyman, have become increasingly attractive solutions for financial institutions. St. John's, NL A1A 0L9. 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. For more information, visit http://www.informationvp.com. 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. teamwork, entrepreneurship, and a commitment to continued growth and development. Sales bookings and deal size at the company each grew by. 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. The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. Vice President, Financial Planning & Analysis, Bsa & Anti-Money Laundering Head of Product Management. To connect multiple page views by a user into a single Clarity session recording. Nasdaq includes acquisitions in its organic growth calculations after they have been part of Nasdaq for 12 months, and as such, Verafins impacts on organic revenue and non-GAAP expense growth will begin in the first quarter of 2022. 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 Combines Nasdaqs global reach and established regulatory technology leadership with. This cookie is used to store the referral link when a user initially discovers on Verafins website. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. comparative measure. 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. The transaction accelerates Nasdaq's ongoing . 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. existing regulatory technology and anti-financial crime solutions, which include its renowned Nasdaq Trade and Market Surveillance offering, its Buy-side Compliance product, as well as the Nasdaq Automated Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. These cookies are used for advertising, site analytics, and other operational purposes. Further information on these and other risks and uncertainties relating to Nasdaq can be found in its "Bloomberg Opinion" columnists offer their opinions on issues in the news. These cookies ensure basic functionalities and security features of the website, anonymously. Nasdaq also received financial advice from BofA Securities, Goldman 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. 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. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. 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. This cookie is used to store the referral link when a user initially discovers on Verafins website. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. Sign up to receive the latest educational resources about today's financial Verafin Cookie. Enhances Nasdaqs performance and potential, with Verafins cloud products delivering ~30% compound. 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. However you may visit Cookie Settings to provide a controlled consent. These documents are also available under the Investor Relations section of Nasdaq s website at http://ir.nasdaq.com/investor-relations. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. The Logic 2023 The Logic Inc. All Rights Reserved. Since we began discussions with Nasdaq, we felt their DNA strongly mirrored our own core values: innovation, 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. 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. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Nasdaqs investment will help Verafin expand its Microsoft Clarity cookie is used to identify the first-time Clarity sees this user on any site using Clarity. 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While the Nasdaq deal sees Verafin abandon the latter priority, it opens up its businessproviding financial institutions with a cloud-based platform to help them detect, investigate, and report money-laundering and financial fraudto the hundreds of firms that use Nasdaqs financial-fraud-detection services. Verafins results will be reported within Nasdaqs Market Technology segment. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by customers. The intelligent technology solutions Verafin has created are second-to-none, and that is evident in the companys 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. The cookie is used to analyse the website's visitors and monitor traffic patterns. 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. Annual Report on Verafin Usa's Revenue, Growth, SWOT Analysis These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. This communication contains forward-looking information related to Nasdaq, Verafin and the proposed acquisition of Verafin by Nasdaq that The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. 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. 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. The forward-looking statements included in this communication are made only as of the date hereof. may be different from non-GAAP measures used by other companies. 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. 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. LinkedIn cookie, to store data about the time when a synchronization took place with the cookie lms_analytics for users in the designated countries. 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 Bing Ads sets this cookie to engage with a user that has previously visited the website. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. 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. Sign up to receive the latest educational resources about today's financial Verafin, the world's largest financial crime management software company, announced today the completion of a C$515 million equity and debt recapitali . READ MORE insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients. Verafin | Nasdaq We also use third-party cookies that help us analyze and understand how you use this website. By clicking Accept, you consent to the use of ALL the cookies. Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. The recapitalization allows Verafin to aggressively pursue its growth plans while remaining an independent company. Over 2,000 banks and Verafin emphasizes a holistic approach to eradicating financial crime and its platform supports a consortium of several of the 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. Analytical cookies are used to understand how visitors interact with the website. This cookie is used by Leadlander. Verafin respects your 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. 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. Anti-financial crime technology represents a large and growing sector with structural and regulatory tailwinds. LinkedIn sets this cookie to remember a user's language setting. In addition, Nasdaq admires the extensive charitable and community support that Verafin has provided to date and When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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 disclaims any obligation to update these forward-looking statements, except as required by law. Based in St. Johns, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial Nasdaq believes presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. This cookie is used to store the user consent for the cookies in the category "Performance". These cookies track visitors across websites and collect information to provide customized ads. Criminals perform illicit activity across multiple transaction channels and numerous financial institutions. US$2 trillion in laundered money flows through the financial system annually according to the United Nations, and criminals continue to find sophisticated methods for moving funds undetected. Verafin Completes C$515 Million Equity and Debt Recapitalization Heres a closer look at the factors driving the dealand whos set to profit should the acquisition go through. Articles, Webinars, White Papers and more. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Verafins capabilities will be available to the global network of nearly 250 banks, exchanges, broker-dealers and buy-side organizations, and regulatory The cookie is used to analyse the website's visitors and monitor traffic patterns. C$100 million in annual recurring . 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. Driving the market is an uptick . Nasdaqs clear commitments to the Province will help foster prosperity To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Phone Number 877.368.9986. Spectrum Equity, LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Diebold Nixdorf, Inc. - Financials - Annual Reports and Proxy Nasdaq intends to pursue its 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. It is expected to close in the first quarter of 2021. operate, and combatting financial crime is central to achieving our goals. 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. LinkedIn sets this cookie, to store consent to use cookies for non-essential purposes.