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

1. Nelnet acquired Next Gen Web Solutions to diversify revenue streams. 2. Next Gen serves over 20 million students in higher education. 3. The acquisition enhances Nelnet's product offerings for administrative support. 4. Nelnet Campus Commerce will integrate Next Gen's solutions into its platform. 5. This move strengthens Nelnet’s position in the higher education market.

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FAQ

Why Bullish?

Nelnet's acquisition of Next Gen is likely to enhance revenue through increased service offerings in a growing market. Historically, similar acquisitions have positively impacted stock performance by expanding product capabilities and market reach.

How important is it?

The acquisition improves Nelnet's strategic positioning and could lead to sustained revenue growth, making it a noteworthy development for investors. The interests of Nelnet in the education sector align with current market trends towards automation and efficiency in administrative functions.

Why Long Term?

While immediate impacts may be moderate, the long-term benefits from enhanced services and new partnerships will likely propel growth. Previous acquisitions in the tech sector often lead to significant improvements over time.

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EDMCCHNGAPOL
, /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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