Blackboard Inc. the world’s leading education technology company recently announced that Providence Equity Partners, parent company of Blackboard, is acquiring the higher education financial company Higher One for $260 million.
The acquisition will allow for collaboration between CASHNet, the market software leader in secure online payment of tuition and fees, and the Blackboard Transact business line.
From last 30 years, CASHnet provides software that simplifies and automates electronic payments across campus. It enables parents and students to electronically pay tuition and fees and establish customized tuition payment plans.
“CASHNet is a natural complement to Blackboard’s broad portfolio of campus financial solutions,” said David Marr, Senior Vice President of Blackboard Transact. “As part of its mission, Blackboard is focused on supporting institutions in their efforts to enable fundamental access to education. Providing students and parents with a comprehensive set of tools that assist them in managing tuition payments is a critical piece of the access equation.”
Check out the full news announcement here.