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Sallie Mae Acquires Key Assets Of Top Scholarship Search App Scholly

Jul 26, 2023•over 2 years ago

Acquiring Company

Sallie Mae

Acquired Company

Scholarship Search App

Newark

Description

Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today announced it has acquired several key assets of top scholarship search app, Scholly. In addition to Scholly’s industry-leading scholarship search and app, Sallie Mae will acquire Scholly’s scholarship administration technology, and Scholly Offers, a platform that matches users with strategic partners to help them earn cash back.

Company Information

Company

Sallie Mae

Location

Newark, Delaware, United States

About

Sallie Mae’s mission is to power confidence as students begin their unique journey. We believe college should be affordable, equitable, and accessible for all students. As the leader in private student lending, we provide financing and expertise to support college access and completion. We offer products and resources to help students and families start smart in planning for higher education, ensuring opportunities to learn and dream big.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed