#United States #Lincoln #Higher Education #Nelnet Business Services #Next Gen Web

Nelnet Expands Its Higher Education Business Through Acquisition

In a significant move aimed at enhancing its footprint in the higher education sector, Nelnet Business Services, a division of Nelnet, Inc. (NYSE: NNI), has successfully acquired all outstanding equity and membership interests of Next Gen Web Solutions. Known for its robust software solutions tailored for the educational sector, Next Gen will now operate under Nelnet's Campus Commerce division.

Strengthening Revenue Streams

The integration of Next Gen is a strategic maneuver that reflects Nelnet's commitment to diversifying its revenue streams while responding to the evolving needs of higher education institutions. “The acquisition of Next Gen and its incorporation into Nelnet Campus Commerce supports our focus on bringing needed solutions to the higher education market,” stated Jackie Strohbehn, President of Nelnet Campus Commerce.

This acquisition is expected to enhance Nelnet's ability to deliver integrated payment solutions and automated administrative tools to educational institutions across the country. With this merger, Nelnet aims to complement its existing services by incorporating Next Gen's innovative offerings, which have served over 20 million students for more than 18 years in the sector.

Enhancing Service Offerings

Next Gen has built a reputation for developing solutions that simplify administrative tasks within educational institutions, such as financial aid processes, scholarship management, and work-study support. Strohbehn noted, “The expansion of our product suite will help Nelnet Campus Commerce deliver additional value to higher education institutions.” This acquisition will not only increase the variety of services Nelnet offers but will also streamline processes in areas such as form building and verification, which are critical for effective educational administration.

Commitment to Smooth Transition

In her comments about the acquisition, Strohbehn expressed confidence in a seamless transition, noting the strong historical relationship both companies share with numerous clients. “Our history with Next Gen will make this a smooth transition for all customers and we are excited about the opportunity to create new partnerships,” she added. This commitment to maintaining high standards of service continuity is essential for the many institutions that rely on both Nelnet and Next Gen.

About Nelnet Campus Commerce

Nelnet Campus Commerce is a leader in delivering advanced payment solutions to nearly 1,000 colleges and universities across the United States. Serving over 8 million students, the division utilizes cutting-edge technology to create unique and integrative payment experiences, enabling institutions to enhance their financial operations.

Its services are recognized as PCI Level 1 validated, ensuring the highest standards of security and integration with major Enterprise Resource Planning (ERP) systems. From processing payments to offering tuition payment plans and online storefronts, Nelnet Campus Commerce plays a crucial role in managing student financial transactions effectively.

Future Prospects

This acquisition marks a pivotal moment not only for Nelnet but for the higher education sector at large as it positions Nelnet to better meet the diverse demands of educational institutions. As the integration progresses, both companies anticipate that the synergy will result in improved solutions, ultimately enriching the educational experience for students. In an evolving educational landscape, Nelnet's proactive approach exemplifies their dedication to remaining at the forefront of technology and service innovation within the sector.

By expanding its capabilities and improving service delivery, Nelnet Business Services is poised to play a vital role in reshaping the future of higher education business solutions. This acquisition of Next Gen Web Solutions signifies a promising trajectory for both Nelnet and the educational institutions it serves.