Nasdaq Completes Acquisition of Verafin
The transaction accelerates Nasdaq’s ongoing evolution into a leading SaaS technology provider and significantly strengthens its existing regulatory and anti-financial crime solutions. Looking ahead, Verafin’s capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaq’s technology to detect market manipulation and abuse.
“At Nasdaq, we believe that fair, secure and transparent markets are vital to creating strong economies that move the world forward,” said
As previously disclosed in Nasdaq’s press release on
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
Nasdaq includes acquisitions in its organic growth calculations after they have been part of Nasdaq for 12 months, and as such, Verafin’s impacts on organic revenue and non-GAAP expense growth will begin in the first quarter of 2022.
Nasdaq Investor Contact
Nasdaq Media Contacts
Yan-yan Tong: +46 (0)73 449 66 83
Verafin Media Contact
Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures, including organic revenue growth and non-GAAP operating expenses.
Nasdaq believes that these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Nasdaq’s financial condition and results of operations. Management uses this non-GAAP information internally, along with
These measures are not in accordance with, or an alternative to,
A reconciliation of non-GAAP forward looking information to their corresponding GAAP measures 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, Nasdaq’s effective tax rate as well as future charges or reversals outside of the normal course of business.
This communication contains forward-looking information related to Nasdaq, Verafin and the acquisition of Verafin by Nasdaq that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. 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. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the transaction and Nasdaq’s plans, objectives, expectations and intentions with respect to its business and Verafin. Risks and uncertainties include, among other things, Nasdaq’s ability to successfully integrate Verafin’s operations; Nasdaq’s ability to implement its plans, forecasts and other expectations with respect to Verafin’s 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 Verafin’s business model on Nasdaq’s 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 Nasdaq’s ongoing business operations; significant transaction costs; unknown liabilities; future levels of Nasdaq’s indebtedness, including additional indebtedness that may be incurred in connection with the transaction; and the effect of the transaction on Verafin’s business relationships, operating results, and business generally.
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 the SEC from time to time and available at www.sec.gov. These documents are also available under the Investor Relations section of Nasdaq 's website at http://ir.nasdaq.com/investor-relations. The forward-looking statements included in this communication are made only as of the date hereof. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law.