Nelnet to acquire the Canadian student loan servicing business of Finastra for CAD130m.

Nelnet, a company providing student loan servicing, education-technology, payment, and communications services, agreed to acquire the Canadian student loan servicing business of Finastra, a financial software company, for CAD130m. "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. 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," Chris Walters, Finastra Chief Executive Officer.