Reston, Virginia-based education technology firm Ellucian is acquiring Chandler, Arizona-based CampusLogic for an undisclosed sum, the second big local ed-tech deal this month.
The deal follows D.C.-based EverFi’s $750 million acquisition by Charleston, South Carolina-based software company Blackbaud, announced last week.
Ellucian’s acquisition of CampusLogic gives it a company that makes financial aid software for higher-education institutions.
CampusLogic’s software is used by nearly 800 schools to increase enrollment, retention and graduation rates. Its platforms include price calculators, scholarship management and streamlined financial aid verification, as well as scholarship crowdfunding.
Ellucian, whose technology solutions are used by more than 2,700 institutions in 50 countries, includes student recruitment, fundraising, alumni engagement and workforce analytics tools. The CampusLogic acquisition expands Ellucian’s current financial aid technology solutions.
“Today’s higher education students are facing financial challenges at all-time high levels, with more than 86% 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, Ellucian chief executive.
The acquisition is Ellucian’s first after it was acquired by Blackstone and Vista Equity Partners last fall.
Other D.C.-area ed-tech deals in recent months have included Lanham, Maryland-based 2U Inc.’s $800 million acquisition last summer of edX, an online course provider started by MIT and Harvard University, and Reston-based Blackboard’s acquisition by Boca Raton, Florida-based education software company Anthology for an undisclosed sum last fall.