On October 23, 2025, Nelnet, Inc. and its wholly owned subsidiary Nelnet Canada, Inc. announced an agreement with DH Corporation, a wholly owned subsidiary of Finastra Holdings Limited, to acquire Finastra’s Canadian student loan servicing business. The deal was announced today and is expected to close in the first quarter of 2026, subject to customary closing conditions. The acquisition adds a leading Canadian servicing platform to Nelnet’s portfolio.
Finastra’s Canadian servicing business currently services loans for 2.4 million borrowers on proprietary technology platforms. The operation is headquartered in Mississauga, Ontario, and employs over 450 staff members plus contractors. The platform provides technology‑enabled managed services across the loan lifecycle for governments and financial institutions.
Nelnet said the transaction builds on its legacy of serving student loan borrowers and government partners in both the U.S. and Canada. The company will maintain independent Canadian operations, with the existing team led by Susan Tersigni, vice president of Student Lending, reporting to Joe Popevis, president of Nelnet Diversified Services. The move expands Nelnet’s presence in the Canadian market while leveraging its loan servicing expertise.
RBC Capital Markets served as the exclusive financial advisor to Finastra on the transaction, and Stikeman Elliott LLP acted as legal advisor to Finastra, while Osler, Hoskin & Harcourt LLP advised Nelnet. The acquisition aligns with Finastra’s strategy to focus on core strengths and provides Nelnet with a significant foothold in the Canadian student loan servicing sector. The deal is expected to enhance Nelnet’s fee‑based revenue streams and broaden its geographic reach.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.