© 2024 Arizent. All rights reserved.

Nelnet closes purchase of CIBC unit

Nelnet Canada Inc., a wholly-owned subsidiary of Nelnet, announced that it has completed its acquisition of EDULINX Canada Corp. from CIBC. The 600 person EDULINX Canada will remain a Canadian company. Nelnet announced the acquisition on Oct. 26. EDULINX is the largest servicer of government sponsored student loans in Canada

"EDULINX will enhance Nelnet's servicing and fee-based revenue, as well as provide expanded opportunities for diversification and access to the Canadian market," Nelnet said in a release.

For reprint and licensing requests for this article, click here.
MORE FROM ASSET SECURITIZATION REPORT