Ellucian, a provider of technology solutions to more than 2,700 institutions around the world said it has signed an agreement to acquire CampusLogic, an Ed-Tech provider of Student Financial Success solutions.
CampusLogic supports nearly 800 higher education institutions improving the outcomes of more than five million students. CampusLogic’s capabilities help students achieve greater levels of success by eliminating the friction associated with applying for financial aid while opening up opportunities to discover broader financial support in the form of grants, scholarships, and other forms of funding, according to a statement.
With this transaction, Ellucian will extend its current financial aid technology solutions, helping higher education institutions to improve enrollment and completion outcomes, according an Ellucian statement. The combined offerings will better support the critical needs of students — to discover, apply and secure the financial resources needed beginning with the enrollment process, through to a degree or post-secondary credential.
“Today’s higher education students are facing financial challenges at all-time high levels, with more than 86 percent [in the U.S.] currently receiving financial aid. At the same time, institutions are facing an increase in departures of financial aid staff leaving them with more administrative workload and less time to engage and support the needs of students,” said Laura Ipsen, CEO, Ellucian, in a prepared statement. “Ellucian’s success in accelerating the digital transformation of higher education, paired with CampusLogic’s financial aid SaaS solutions, provides a more connected and interactive experience creating more speed and certainty for students to meet their financial needs. Integrating CampusLogic’s capabilities across Ellucian’s comprehensive SaaS offerings creates new opportunities for innovation beyond student financial success to address the issue of student well-being.”
“We are thrilled to join the Ellucian team in our common mission to improve student experience across the entire higher education journey,” said Gregg Scoresby, Founder and CEO of CampusLogic. “Our solutions improve the student financial aid experience, addressing the number one barrier to enrollment and graduation. As part of Ellucian, we have more opportunity than ever to help schools change lives and make student financial success a national priority.”
Scoresby will join Ellucian in a new role to lead the vision and strategy focused on student success and well-being. Ellucian will continue to integrate with all CampusLogic customers and their partners leveraging Ellucian’s Open SaaS Platform with data integration and UI frameworks across the entirety of CampusLogic’s solution suite including: StudentForms, Scholarship Universe, CampusCommunicator, RaiseMe Enrollment, ClearCost, VirtualAdvisor and SponsoredScholar. Investing in and growing these solutions is a key part of Ellucian’s ongoing strategy and product roadmap.
Goldman, Sachs & Co. LLC served as exclusive financial advisor to CampusLogic. Macquarie Capital served as exclusive financial advisor to Ellucian.