Nelnet Canada to Acquire Canadian Student Loan Servicing Business
Nelnet (NYSE: NNI) announced that its wholly owned subsidiary Nelnet Canada agreed to acquire Finastra's Canadian student loan servicing business, with the transaction expected to close in Q1 2026 subject to customary closing conditions.
Key disclosed facts: the acquired business services 2.4 million borrowers on proprietary platforms, will remain headquartered in Mississauga, Ontario, and will continue operating with >450 employees and contractors led by Susan Tersigni reporting to Joe Popevis.
RBC Capital Markets advised Finastra; Stikeman Elliott advised Finastra; Osler, Hoskin & Harcourt advised Nelnet.
Nelnet (NYSE: NNI) ha annunciato che la sua controllata interamente posseduta Nelnet Canada ha concordato di acquisire l'attività canadese di gestione dei prestiti studenteschi di Finastra, con la finalizzazione dell'accordo prevista nel Q1 2026 soggetta alle consuete condizioni di chiusura.
Fatti chiave divulgati: l'attività acquisita serve 2,4 milioni di debitori su piattaforme proprietarie, avrà sede a Mississauga, Ontario, e continuerà a operare con oltre 450 dipendenti e collaboratori guidati da Susan Tersigni riportando a Joe Popevis.
RBC Capital Markets ha fornito consulenza a Finastra; Stikeman Elliott ha fornito consulenza a Finastra; Osler, Hoskin & Harcourt ha fornito consulenza a Nelnet.
Nelnet (NYSE: NNI) anunció que su subsidiaria 100% propiedad Nelnet Canada acordó adquirir el negocio canadiense de servicios de préstamos estudiantiles de Finastra, con la transacción prevista para cerrar en Q1 2026 sujeto a las condiciones habituales de cierre.
Datos clave divulgados: el negocio adquirido presta servicios a 2,4 millones de prestatarios en plataformas propietarias, permanecerá con sede en Mississauga, Ontario, y continuará operando con más de 450 empleados y contratistas dirigidos por Susan Tersigni reportando a Joe Popevis.
RBC Capital Markets asesoró a Finastra; Stikeman Elliott asesoró a Finastra; Osler, Hoskin & Harcourt asesoró a Nelnet.
Nelnet (NYSE: NNI)은 전액 출자 자회사인 Nelnet Canada가 Finastra의 캐나다 학자금 대출 관리 사업을 인수하기로 합의했으며, 거래는 일반적 종결 조건의 충족을 전제로 2026년 1분기에 마무리될 예정입니다.
공개된 핵심 사실: 인수된 사업은 240만 명의 차주를 독자 플랫폼에서 서비스하며, 미시소가(Mississauga), 온타리오에 본사를 유지하고, >450명의 직원과 계약자로 운영을 계속하며 Susan Tersigni가 Joe Popevis에게 보고합니다.
Finastra에는 RBC Capital Markets가 자문을, Finastra에는 Stikeman Elliott가 자문을, Nelnet에는 Osler, Hoskin & Harcourt가 자문을 제공했습니다.
Nelnet (NYSE: NNI) a annoncé que sa filiale entièrement détenue Nelnet Canada a accepté d'acquérir l'activité canadienne de services de prêts étudiants de Finastra, la transaction devant être finalisée au 1er trimestre 2026 sous réserve des conditions habituelles de clôture.
Faits clés divulgués: l'activité acquise dessert 2,4 millions d'emprunteurs sur des plateformes propriétaires, restera headquarter à Mississauga, Ontario, et continuera d'opérer avec plus de 450 employés et contractuels dirigés par Susan Tersigni et relevant de Joe Popevis.
RBC Capital Markets a conseillé Finastra; Stikeman Elliott a conseillé Finastra; Osler, Hoskin & Harcourt a conseillé Nelnet.
Nelnet (NYSE: NNI) gab bekannt, dass seine vollständig im Besitz befindliche Tochtergesellschaft Nelnet Canada plant, Finastra's kanadisches Servicing-Geschäft für Studiendarlehen zu übernehmen, wobei der Abschluss der Transaktion voraussichtlich im Q1 2026 unter üblichen Abschlussbedingungen erfolgen wird.
Wichtige offen gelegte Fakten: Das erworbene Geschäft betreut 2,4 Millionen Kreditnehmer auf proprietären Plattformen, wird seinen Hauptsitz in Mississauga, Ontario behalten und mit über 450 Mitarbeitern und Auftragnehmern weiter betrieben, geleitet von Susan Tersigni, die an Joe Popevis berichtet.
RBC Capital Markets beriet Finastra; Stikeman Elliott beriet Finastra; Osler, Hoskin & Harcourt beriet Nelnet.
Nelnet (NYSE: NNI) أعلن أن شركته التابعة المملوكة بالكامل Nelnet Canada وافقت على الاستحواذ على نشاط خدمات قروض الطلاب الكندي الذي تملكه Finastra، على أن يتم الإغلاق في الربع الأول من 2026 وفقاً لشروط الإغلاق المعتادة.
حقائق رئيسية كشفت: يخدم العمل التجاري المكتسب 2.4 مليون مقترض على منصات خاصة، وسيظل مقره الرئيسي في Mississauga، أونتاريو، وسيواصل التشغيل مع أكثر من 450 موظفاً ومتعاقداً بقيادة Susan Tersigni وتقريراً إلى Joe Popevis.
استشار RBC Capital Markets Finastra؛ ستيكمين إليوت Stikeman Elliott استشار Finastra؛ أوسلر، هوسكين وهاركوارت Osler, Hoskin & Harcourt استشار Nelnet.
Nelnet (NYSE: NNI) 宣布，其全资子公司 Nelnet Canada 已同意收购 Finastra 的加拿大学生贷款服务业务，交易预计在 2026年第一季度 完成，需符合惯常的交割条件。
披露的关键信息：被收购的业务在自有平台上为 240万借款人 提供服务，将继续在安大略省密西沙加设立总部，并将继续由 450 余名员工及承包商运营，由 Susan Tersigni 领导，向 Joe Popevis 汇报。
RBC Capital Markets 为 Finastra 提供咨询；Stikeman Elliott 为 Finastra 提供咨询；Osler, Hoskin & Harcourt 为 Nelnet 提供咨询。
- 2.4 million borrowers added to Nelnet's servicing base
- Maintains independent Canadian operations headquartered in Mississauga, Ontario
- Retains >450 employees, preserving operational continuity
- Transaction expected to close in Q1 2026, providing a clear near-term timeline
- None.
Insights
Nelnet expands Canadian loan servicing scale by acquiring a 2.4M-borrower business; close expected in
Nelnet will acquire Finastra's Canadian student loan servicing business that currently services loans for 2.4 million borrowers and employs over 450 people, keeping operations headquartered in Mississauga and led by Susan Tersigni. The purchase preserves the existing team and platforms, and Nelnet intends to operate the unit independently while reporting it through Nelnet Diversified Services.
The transaction depends on customary closing conditions and a successful close in
Watch the announced close timing and any regulatory clearances in the coming quarter, along with statements on integration plans and service-level commitments. Monitor disclosures about retained contracts, employee transition details, and any material changes to the servicing platform over the next few months.
Finastra's Canadian student loan servicing business is the leading provider of student loan servicing solutions to governments and financial institutions in
"We are excited to welcome the Canadian team to Nelnet," said Jeff Noordhoek, chief executive officer of Nelnet. "This acquisition builds on our legacy of serving student loan borrowers and government partners in both the
Nelnet, the former owner of EDULINX Canada Corporation and administrator of the Canadian Student Loan Program (CSLP), as well as various provincial and financial institution-administered programs, brings deep expertise as a provider of student and consumer loan servicing, servicing technology, and business process outsourcing.
Nelnet intends to maintain independent Canadian business operations with the full team continuing to be led by Susan Tersigni, vice president of Student Lending, reporting to Joe Popevis, president of Nelnet Diversified Services. The Canadian servicing business will remain headquartered in
"This transaction aligns perfectly with Finastra's strategy to focus on our core strengths while ensuring our student lending business continues to grow with a partner that knows the industry well," said Chris Walters, chief executive officer of Finastra. "Nelnet's deep experience and shared commitment to customers and service excellence make them the right partner to lead this business into its next chapter."
RBC Capital Markets acted as the exclusive financial advisor to Finastra on the transaction, and Stikeman Elliott LLP acted as legal advisor.
About Nelnet
Nelnet is a diversified company with primary businesses being consumer lending, loan servicing, payments, and technology—all with a large customer emphasis in the education space. Headquartered in
About Finastra
Finastra is a global leader in financial services software, trusted by 8,000+ customers - including 45 of the world's top 50 banks - in over 130 countries. With expertise in Lending, Payments, Universal Banking, and Treasury & Capital Markets, Finastra delivers reliable, scalable, mission-critical solutions such as Loan IQ, LaserPro, Trade Innovation, Essence, Global PAYplus, Payments To Go, and Financial Messaging. Backed by Vista Equity Partners, Finastra co-innovates with customers to build modern technology that helps financial institutions grow with confidence. Visit www.finastra.com or follow Finastra on LinkedIn.
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SOURCE Nelnet, Inc.
FAQ
What does Nelnet's acquisition of Finastra's Canadian servicing business mean for NNI shareholders?
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