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Nelnet Expands Higher Education Footprint with Acquisition of Next Gen Web Solutions

1. Nelnet acquires Next Gen Web Solutions to enhance educational software offerings. 2. The acquisition aims to diversify revenue streams and support higher education needs. 3. Next Gen serves 20 million students, focusing on administrative process automation. 4. Nelnet Campus Commerce will expand its product suite post-acquisition. 5. Integration enhances payment technology for nearly 1,000 institutions across the U.S.

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FAQ

Why Bullish?

The acquisition signals strategic growth and revenue diversification for NNI. Historical acquisitions in tech often boost market confidence.

How important is it?

The growth strategy through acquisition is pivotal for NNI's competitive positioning in the education sector.

Why Long Term?

The integration of Next Gen will likely yield sustained benefits over several years as new products mature.

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EDMCPSOALRN
, /PRNewswire/ -- Nelnet Business Services, a division of Nelnet, Inc. (NYSE: NNI), has acquired the outstanding equity and membership interests to become the sole owner of Next Gen Web Solutions (Next Gen), a longtime provider of software solutions within the higher education market. As a result of the acquisition, Next Gen, headquartered in Jacksonville, FL, will be structured within the Nelnet Campus Commerce business line of Nelnet Business Services, under the leadership of Nelnet Campus Commerce President Jackie Strohbehn. "The acquisition of Next Gen and its incorporation into Nelnet Campus Commerce supports our focus on diversifying revenue streams while bringing needed solutions to the higher education market," said Strohbehn. With more than 18 years of higher education experience, Next Gen has served more than 20 million students, focusing on delivering solutions to streamline and automate administrative processes.  "While we have a number of shared clients with Next Gen, the expansion of our product suite will help Nelnet Campus Commerce deliver additional value to higher education institutions," offered Strohbehn. "We will now be able to address customer needs for form building, financial aid exception processing, verification, scholarship management, and work-study administrative support." "We are confident that our history with Next Gen will make this a smooth transition for all customers and excited by the opportunity to create new partnerships," concluded Strohbehn. About Nelnet Campus CommerceNelnet Campus Commerce delivers unlimited payment opportunities for nearly 1,000 colleges and universities and serves over 8 million students across the United States. Using the latest technology to create unique and integrated payment experiences, Nelnet Campus Commerce solutions are PCI Level 1 validated and integrate with every major Enterprise Resource Planning (ERP) system. From payment processing and refunds to tuition payment plans and online storefronts, Nelnet Campus Commerce helps process every payment on campus. About Nelnet Business Services Nelnet Business Services (NBS) is a division of Nelnet, Inc. (NYSE: NNI), which provides payment technology and community management solutions for K-12 schools, higher education institutions, churches, and businesses in the U.S. and internationally. NBS serves nearly 1,000 higher education institutions and 12,000 K-12 schools worldwide. SOURCE Nelnet Campus Commerce WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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