Nelnet Inc. in its agreement to acquire the student loan servicing business of Finastra in Canada Nelnet Inc. in its agreement to acquire the student loan servicing business of Finastra in Canada

On October 23, 2025, Nelnet Inc., along with its wholly owned subsidiary Nelnet Canada, Inc., announced its agreement to acquire Finastra Holdings Limited’s Canadian student loan servicing business. Finastra’s Canadian student loan servicing business is the leading provider of student loan servicing solutions to governments and financial institutions in Canada providing technology-enabled managed services across the loan lifecycle. The business currently services loans for 2.4 million borrowers on proprietary technology platforms. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.

Nelnet is a diversified company with its focus in consumer lending, loan servicing, payments and technology.

Finastra is a portfolio company of Vista Equity Partners. 

Osler, Hoskin & Harcourt LLP advised Nelnet, Inc. with a team consisting of Brian Gray, Michael Vandenberghe, Ben Fickling and Nathan Wolgelerenter (Corporate), Sandra Sbrocchi and Sahar Ayub (Osler Works – Transactional), Damian Rigolo and Irmak Aydemir (Employment and Labour), Jon Marin and Lauren Graham (Pensions and Benefits), David Davachi, Alan Kenigsberg and Alina Tamm (Tax), Elizabeth Sale and Hunter Ceklic (Financial Services Regulatory), Matthew Ritchie (Real Estate), Kelly Moffatt (Intellectual Property), Sam Ip (Technology) and Adam Laroche, Justin P’ng (Privacy) and Christine Jackson (Commercial).