Inventory market index Nasdaq ^IXIC introduced Thursday that it’s buying anti-financial crime options supplier Verafin for $2.75 billion in money.

The settlement will mix Verafin’s suite of anti-financial crime administration instruments with Nasdaq’s attain to fight “a worldwide downside that calls for modern motion,” the businesses mentioned.

Based in 2003, Verafin works with over 2,000 monetary establishments in North America with a cloud platform to detect, examine and report cash laundering and monetary fraud actions.

Verafin will turn out to be a part of Nasdaq’s current crime options portfolio, which incorporates Nasdaq Commerce and Market Surveillance in addition to the Nasdaq Automated Investigator and its Purchase-Aspect Compliance product.

“On the core of Nasdaq’s mission, we champion equity and integrity within the markets that we construct and within the broader monetary ecosystem during which we function, and combatting monetary crime is central to attaining our objectives,” mentioned CEO Adena Friedman.

The deal is anticipated to shut within the first quarter of 2021 with income from the acquisition anticipated to extend the income contribution from Nasdaq’s monetary safety enterprise phase to 47% from 44% professional forma for the third quarter of 2020.

The acquisition is anticipated to ship EPS accretion starting in 2022.

“Verafin’s modern fraud and AML detection platform, mixed with Nasdaq’s main commerce and market surveillance answer, will empower Nasdaq to play an more and more essential position in constructing stronger economies all over the world,” Friedman mentioned.

Evercore served as lead monetary adviser for the transaction together with JPMorgan Securities.