BRIEF-Higher One acquires Sallie Mae's campus solutions business for $47.25 mln

May 07, 2013

May 7 (Reuters) - Higher One Holdings Inc :

* Acquires Sallie Mae's campus solutions business

* Says all-cash transaction valued at approximately $47.25 million

* Source text for Eikon

* Further company coverage ((Bangalore Newsroom; +1 646 223 8780))

 
Higher One Buys Sallie Mae's Campus Payments Arm for $47 Million

May 08, 2013

Higher One, a company best known for streamlining the process by which colleges channel federal aid funds to students, said Tuesday that it has agreed to purchase the Campus Solutions arm of Sallie Mae that two years ago sought to compete with it. Higher One valued the purchase of the Sallie Mae business -- which works with campus business offices on billing payment solutions, refund disbursement services, and tuition payment plan administration -- at $47.25 million. Higher One has been growing; last year it bought Campus Labs, a student affairs analytics company.

 
Higher One Buys Services Business From Sallie Mae for $47M

Dan Haar
May 07, 2013

Higher One, the New Haven-based educational financial services firm, has acquired the Campus Solutions business of Sallie Mae in a $47.25 million deal that boosts the company’s offerings to schools and students.

The business from Sallie Mae, the student loan giant, includes e-commerce, bill payment systems, refund disbursement and administration of tuition payment plans, Higher One and Sallie Mae said in a joint release.

For Higher One, which ran afoul of regulators last year over fees and agreed to pay $11 million in restitution to students, the cash deal solidifies its standing as a dominant player in student financial services. The company is increasing its size and offerings at a time when investor confidence in the industry has been shaken by default rates, stricter federal regulations and other factors.

Read More Here.