Sallie Mae Agrees to Acquire Nitro College, a Delaware-Based Digital Marketing and Education Solutions Company | Business

NEWARK, Delaware–(BUSINESS WIRE)–January 26, 2022–

Sallie Mae (Nasdaq: SLM), officially SLM Corporation, today announced that it has entered into a definitive agreement with Epic Research LLC to acquire Nitro College (Nitro), a Delaware-based digital marketing and education solutions company. The agreement will bring innovative products, tools and resources to help students and families confidently navigate their higher education journey and enhance future strategic growth opportunities for Sallie Mae.

Nitro is a leader in helping students and families assess how to responsibly plan and pay for their college education 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 decisions. informed about the university.

“It’s an exciting day for Nitro as we bring to Sallie Mae our products and services aimed at helping students and families afford higher education,” said Justin Moran, Chief Digital Officer at Nitro. “Through our partnership over the past few years, we have come to realize that Nitro and Sallie Mae share a common goal of bridging the trust gaps that students and families face when planning and paying for a college education. Now, as part of Sallie Mae, we seek to provide exciting new digital solutions to our combined customers and open the door to more technology-focused employment opportunities in Delaware.

Sallie Mae has had a partnership with Nitro since 2017. Once complete, the acquisition – including Nitro’s intellectual property and experienced staff of financial services, marketing and education professionals – is expected to immediately expand marketing capabilities Mae’s digital platform and advancing the company as a broader education solutions provider for students before, during and immediately after college.

“The acquisition of Nitro was a unique opportunity to bring two Delaware-based companies together with the common goal of helping students and families plan and pay for their education responsibly,” said Jon Witter, CEO of Sallie Mae. “Nitro will significantly enhance our reach to current and prospective students and their parents – providing funding options, tools and resources to build confidence in their higher education journey. This acquisition also aligns with our strategy to leverage innovative technology to meet the growing needs of our current and future customers. Nitro has already been a great partner and we look forward to welcoming their talented team to Sallie Mae.

“We are familiar with Nitro’s platform and look forward to developing and expanding these capabilities,” said Donna Vieira, Chief Commercial Officer of Sallie Mae. “This acquisition not only means a dramatic increase in our reach and brand position, but should also bring future growth opportunities in other product areas such as our credit cards, savings and deposits.”

The transaction is subject to customary approvals and closing conditions and is expected to close in the first quarter of 2022. Terms of the acquisition are not disclosed as the purchase price is not material to the business. Keefe, Bruyette & Woods, Inc., a Stifel company, served as exclusive financial advisor and Davis Polk & Wardwell LLP served as legal advisor 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 in this transaction.

nitro Based in Wilmington, DE, Nitro is committed to helping students and their families by offering a variety of resources to help fund their higher education. Nitro is 100% owned by Epic Research, a marketing company specializing in helping financial services companies acquire new customers through organic growth. For more information about Nitro, visit nitrocollege.com. For more information about Epic Research, visit epicresearch.net.

Sally Mae (Nasdaq: SLM) believes that education and lifelong learning, in all its forms, helps people achieve great things. As a leader in private student loans, we provide financing and expertise to facilitate access to college and offer products and resources to help clients achieve new goals and experiences, beyond the university. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its affiliates are not sponsored by or agencies of the United States of America.

Category: Business and Financial

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220126005927/en/

CONTACT: Sallie Mae

Rick Castellano

302-451-2541

[email protected] / Epic Research

Melanie Augustin

302-510-1338

[email protected]

KEYWORD: DELAWARE UNITED STATES NORTH AMERICA

SECTOR KEYWORD: INTERNET SOFTWARE PROFESSIONAL SERVICES TRAINING TECHNOLOGY CONTINUING UNIVERSITY EDUCATION MARKETING ADVERTISING COMMUNICATION FINANCE

SOURCE: Sallie Mae

Copyright BusinessWire 2022.

PUBLISHED: 01/26/2022 16:05 / DISK: 01/26/2022 16:06

http://www.businesswire.com/news/home/20220126005927/en

Copyright BusinessWire 2022.