Nelnet Canada to acquire Finastra's Canadian student loan servicing business for CAD $130M cash

NELNET INC

Purchase price of CAD $130 million (approximately USD $93 million) in cash.
Transaction expected to close in Q1 2026, subject to customary conditions.
Acquired business services 2.4 million borrowers; employs over 450 staff in Mississauga, Ontario.
Nelnet previously owned EDULINX Canada and administered the Canadian Student Loan Program.
Susan Tersigni will continue to lead the business, reporting to Nelnet Diversified Services president Joe Popevis.

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