Nasdaq Steps Up Crime-Fighting Tech With $2.75 Billion Deal (2)

Nasdaq Inc. agreed to acquire Verafin, a provider of technology that fights financial fraud and money laundering, for $2.75 billion in cash.

Verafin, based in St. John’s, Newfoundland and Labrador, provides a cloud-based platform that helps customers detect and report financial crimes, according to a statement Thursday. Its current clients include 2,000 banks and credit unions in North America, and Nasdaq aims to expand those services to the largest banks and second-tier institutions, including in Europe.

“Financial crime, including money laundering, is among the biggest and most difficult challenges that banks face around the world,” Nasdaq Chief Executive Officer Adena ...