NEW YORK and ST. JOHN`S, Newfoundland and Labrador, November 19, 2020 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ), a global technology company, and Verafin, an industry pioneer in financial crime, today announced a final agreement for Nasdaq to acquire Verafin for $2.75 billion in cash. The agreement will combine Verafin`s full range of products to combat financial crime with the reach of Nasdaq and established leadership in regulatory technology to create a global SaaS leader in the fight against financial crime, a global problem that requires innovative action. In a statement, Nasdaq said the agreement between the two companies would combine Verafin`s products with Nasdaq`s international reach to make it a world leader “in the fight against financial crime.” Today, @Nasdaq announced an agreement to acquire @Verafin, a pioneer in cloud-based solutions for financial crime management. Read more: t.co/YpQdRw6YYO (Thread 1/4) pic.twitter.com/pxkWfL53en There will also be a scholarship program at Memorial University, including funding and monitoring of six scholarships for master`s and doctoral students “to promote the next generation of talent in the province and help support Verafin`s growing employment base.” Verafin is the industry leader in financial crime management solutions for businesses and provides a secure cloud-based software platform for fraud detection and management, BSA/AML compliance and management, high-risk customer management and information sharing. More than 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with the rules. Verafin uses its unique big data intelligence, visual storytelling and collaborative investigative functions, and significantly reduces false positive alerts, provides contextual information and streamlines the frightening BSA/AML compliance processes that financial institutions now face. Verafin is an exclusive supplier to the Texas Bankers Association, Western Bankers Association, Florida Bankers Association, Massachusetts Bankers Association and CUNA Strategic Services, with industry support in 48 U.S. states. Visit www.verafin.com, email firstname.lastname@example.org or call 866.781.8433.
According to the press release, Nasdaq will also seek to expand Memorial University`s scholarship program to support Verafin`s labour needs and the province`s technology sector. In addition, Nasdaq will fund and oversee at least six m unusual scholarships each year for master`s and doctoral students at mun. The company also announced a new $1 million research and development partnership project with the Genesis Centre. Friedman continues: “In addition to Verafin`s significant contribution to Nasdaq`s strategic ambitions, the acquisition also promotes our goal of being a leading provider of cloud-based SaaS solutions for global capital markets and beyond. This combination accelerates the development of our business mix towards highly calverable subscription sales. The SME in financial services was ripe for subscription-based software, and what we were hoping for was a move to the cloud that would replace their cumbersome manual processes; and, Brian Hartlen: 1 709 725 email@example.com On this joint basis, we agreed in September 2009 to manage the investment in Serie A and to work with the team and our union partner Killick Capital for the construction of Verafin.