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Nasdaq to acquire Verafin for $2.75 billion

Christian Fernsby |
Nasdaq and Verafin 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.

Based in St. John’s, Newfoundland and Labrador and founded in 2003, Verafin provides institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud.

Verafin’s products are powered by intelligent analytics and leverage machine learning, robust shared data insights and powerful visualization and investigation tools to increase detection accuracy and reduce costs for clients.

Verafin emphasizes a holistic approach to eradicating financial crime and its platform supports a consortium of several of the largest global banks as they collaborate to detect financial crimes to support law enforcement investigations.

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