On October 23, 2025, Nelnet, Inc., through its subsidiary Nelnet Canada, Inc., entered into an agreement to acquire the Canadian student loan servicing business of DH Corporation, a subsidiary of Finastra Holdings Limited. The transaction, set to close in the first quarter of 2026 pending customary conditions, involved the leading provider of student loan servicing solutions to Canadian governments and financial institutions, servicing loans for 2.4 million borrowers. The acquisition reinforced Nelnet’s commitment to expanding its student loan servicing footprint in Canada, leveraging its experience as a former owner of EDULINX Canada Corporation and administrator of the Canadian Student Loan Program. Nelnet planned to retain the Canadian business’s independent operations, with Susan Tersigni continuing as vice president of Student Lending, reporting to Joe Popevis, president of Nelnet Diversified Services. The business would remain headquartered in Mississauga, Ontario, employing over 450 staff and additional contractors. The transaction aligned with Finastra’s strategy to focus on core strengths while ensuring continued growth for its student lending business under Nelnet’s stewardship.

RBC Capital Markets served as exclusive financial advisor to Finastra, with Stikeman Elliott LLP as legal advisor. Osler, Hoskin & Harcourt LLP acted as legal advisor to Nelnet.

The transaction value was not disclosed.