Verafin

Verafin in its US$2.75 billion acquisition by Nasdaq

Client

Verafin

Value

US$2.75 billion

Service

Mergers and Acquisitions

Date Closed

February 2021

Lead Office

Toronto

 

On November 19, 2020, Nasdaq and Verafin announced they have entered into a definitive agreement through which Nasdaq will acquire Verafin for US$2.75 billion. The acquisition will combine Verafin’s anti-financial crime management products with Nasdaq’s reach and regulatory leadership to create a global SaaS leader in the fight against financial crime. The transaction will strengthen Nasdaq’s existing technology and anti-financial crime solutions and will make Verafin’s solutions available to a global network to detect market manipulation and abuse. Nasdaq’s investment in Verafin will strengthen and expand its position as an economic and technology leader while maintaining its base in St. John’s, NL.

Verafin is one of Canada’s largest technology companies and an industry leader specializing in enterprise financial crime management solutions. Verafin is focused on providing a cloud based, secure platform for fraud detection and management, BSA/AML compliance and management, high risk customer management and information sharing.

Nasdaq Inc. is a global technology firm focused on serving the capital markets and other industries through a diverse offering of data, analytics, software and services.

Osler, Hoskin & Harcourt LLP advised Verafin with a team consisting of Chad Bayne, David Jamieson, Justin Dharamdial, Kosta Starostin, Emery White, Alexandra Alacchi (Emerging and High Growth Companies), Shuli Rodal, Gajan Sathananthan (Competition/Antitrust and Foreign Investment), Steven Dickie (Employment & Labour), Dov Begun, Christopher Sheridan, Jennifer Lee, Andrew Granek (Taxation), Sam Ip (Technology) and Riyaz Dattu (International Trade and Investment Law).