Ellucian, a Virginia company that makes a range of enterprise software for higher ed campuses, has acquired the financial aid SaaS company CompusLogic, according to a news release last week. CampusLogic itself had acquired three financial technology startups since 2017 — Cegment, Funderbolt and RaiseMe, according to Crunchbase — while this was Ellucian’s first acquisition in over 18 years.
The two companies had been partners in integrating their products since 2016, and that integration will continue. But the news release said a key part of Ellucian’s future strategy now involves investing in CampusLogic’s suite of products, such as StudentForms, Scholarship Universe, CampusCommunicator and RaiseMe Enrollment, and CampusLogic stands to grow its footprint in the education market.
According to the news release, CampusLogic has nearly 800 clients in higher education, and Ellucian has about 2,700 in more than 50 countries.
“Thanks to our incredible employees and customers, our products will remove financial friction for over 5 million students this year,” said CampusLogic CEO Gregg Scoresby in a public statement. “But as part of Ellucian, we expect to double our impact in the coming years and ensure that student financial success remains a national priority.”
Ellucian CEO and President Laura Ipsen said in a public statement that developing the integration between her company and CampusLogic aims to help students find a clearer path to their goals, and for university clients, it may yield data-driven improvements to recruitment.
“For institutions, connecting CampusLogic solutions through Ellucian’s Experience platform, ERP/SIS and CRM solutions will deliver critical financial aid data to support recruiting, enrollment and completion outcomes for institutions to enable them to create more opportunities for students,” she said.
