Acquisition Will Bring Innovative Products, Tools, and Resources to Students and Families and Improve Future Opportunities for Strategic Growth
NEWARK, Del., Jan. 26, 2022-(BUSINESS WIRE)-Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today announced that it has entered into a specific agreement with Epic Research LLC to acquire Delaware-based Nitro College (Nitro), a digital marketing and education solutions company. The deal will bring innovative products, tools, and resources to help students and families confidently navigate their journey to higher education and enhance future strategic growth opportunities for Sallie. Mae.
Nitro is a leader in helping students and families evaluate how to responsibly plan and pay for college and manage their financial responsibilities after graduation. The company provides a variety of free financial aid tools and resources, including a scholarship finder and FAFSA support as well as calculators, research, and education to help students and families make smart decisions about college.
“This is an exciting day for Nitro as we bring our products and services aimed at helping students and families provide higher education to Sallie Mae,” said Justin Moran, Chief Digital Officer, Nitro. “Through our partnership over the past few years, we realize that Nitro and Sallie Mae have the same goal of filling in the confidence gaps that students and families face when planning and paying for college. part of Sallie Mae, we are looking to deliver new and exciting digital solutions for our integrated customers and open the door for more tech-focused job opportunities in Delaware. ”
Sallie Mae has had a partnership with Nitro since 2017. When completed, the acquisition-including Nitro’s intellectual property and experienced staff of financial services, marketing, and education professionals-is expected will immediately expand Sallie Mae’s digital marketing capabilities and further advance the company as a broader provider of educational solutions for students before, during, and immediately after college.
“The acquisition of Nitro is a unique opportunity to combine two Delaware -based companies with a common goal to help students and families responsibly plan and pay for college,” said Jon Witter, CEO, Sallie Mae. “Nitro will greatly enhance our reach with current and prospective college students and their parents – providing funding options, tools, and resources to boost confidence in their journey to higher education. education.The acquisition is also in line with our approach to using innovative technology to meet the growing needs of our current and future customers.Nitro has been a very good partner and we look forward to welcoming their talented team to Sallie Mae. “
“We are well aware of the Nitro platform and we look forward to developing, and expanding, those capabilities,” said Donna Vieira, Chief Commercial Officer, Sallie Mae. “This acquisition not only means a dramatic increase in our reach and expanded brand position, but should also bring future growth opportunities through other product areas such as our credits. cards, savings, and deposits. “
The transaction is subject to routine approvals and closing conditions and is expected to close in the first quarter of 2022. The terms of the acquisition are not disclosed because the purchase price is not material to the company. Keefe, Bruyette & Woods, Inc., a Stifel Company, served as exclusive financial advisor and Davis Polk & Wardwell LLP served as legal counsel to Sallie Mae in this transaction. Broadhaven Capital Partners served as exclusive financial advisor and Morris, Nichols, Arsht & Tunnell LLP served as legal advisor to Epic Research LLC on this transaction.
Nitro based in Wilmington, DE, Nitro is dedicated to helping college students and their families by offering a variety of resources to help them finance their higher education. Nitro is wholly owned by Epic Research, a marketing company that specializes in helping financial services companies gain new customers through organic growth. For more information on Nitro, visit nitrocollege.com. For more information on Epic Research, visit epicresearch.net.
Sallie Mae (Nasdaq: SLM) believes that education and lifelong learning, in all its forms, help people achieve good things. As a leader in private student lending, we provide financing and knowledge to support college access and offer products and resources to help customers create new goals and experiences, beyond college , happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Corporate and Financial
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Contacts
Sallie Mae
Rick Castellano
302-451-2541
[email protected]
Nitro / Epic Research
Melanie Augustin
302-510-1338
[email protected]