Nasdaq to Acquire Verafin

Nasdaq and Verafin, an industry pioneer in anti-financial crime management solutions, announced that they have entered into a definitive agreement for Nasdaq to acquire Verafin for US$2.75 billion in cash, subject to customary adjustments. The agreement will combine Verafin’s suite of anti-financial crime management products with Nasdaq’s regulatory technology to create a global SaaS leader. Based in St. John’s, Newfoundland and Labrador and founded in 2003, Verafin provides more than 2,000 financial institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud.