NEW HAVEN, Conn., Aug. 7, 2012 /PRNewswire/ -- Higher One (www.higherone.com) announced today that it will expand the company's offering to include data analytics and assessment software for higher education enterprises through acquiring substantially all of the assets of Campus Labs (http://www.campuslabs.com). Campus Labs is the leading comprehensive assessment platform for higher education that combines data collection, reporting, and analytics to help promote student and institutional success.
"Campus Labs' market leading assessment platform expands our service offering to yet another vital component of campus operations," explained Mark Volchek, Higher One CEO. "Campus Labs' services, like our OneDisburse® and CASHNet® suites, help the campus operate more efficiently in an era when many colleges and universities are faced with a challenging budgetary climate. Higher One is excited to be more comprehensively involved with our campus partners to better serve their students."
Both Higher One and Campus Labs were founded by students who identified opportunities for institutions to provide tools that enhance the student experience through increasing institutional efficiencies. With Higher One, campuses nationwide have realized over 300 million dollars in cost savings through efficiencies in the way institutions and students manage critical processes. Through Campus Labs, campuses are better able to unlock institutional data in an effort to make more informed decisions about the unique challenges facing higher education today.
Higher One is a leading provider of payment processing and refund disbursement services in higher education serving more than 830 campuses across the country, while Campus Labs has become the leading platform and service provider for assessment in higher education serving more than 650 campuses in both the United States and abroad.
"Higher One continues to be focused on the needs of the colleges and universities we serve," stated Higher One President and COO, Miles Lasater. "Stakeholders are increasingly demanding information to show the strong value and impact of higher education. Now, we are better prepared to assist our campus partners in gathering and providing this information, whether it is used for efforts related to institutional efficiency, accreditation, retention, or persistence. We will continue to look for ways to leverage the various modules under the Higher One umbrella to solve new problems like understanding and predicting student success."
As a result of this acquisition, Higher One adds assessment management, strategic planning, accreditation, course evaluations, student engagement management, benchmarking, and at-risk student identification services to its expanding portfolio of products.
"As a combination, Higher One and Campus Labs are better able to assist campuses in addressing critical processes and using data as a tool to help promote student and institutional success," said Eric Reich, President of Campus Labs. "The cultures of both organizations are well aligned with a focus on supporting campuses through quality service and a passion for discovering innovative ways to solve complex problems."
GSV Advisors acted as exclusive financial advisor to Campus Labs in this transaction.
About Higher One:
Higher One Holdings, Inc. (NYSE: ONE) is a leading company focused on helping college business offices manage operations and providing enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive Financial Aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases and learn the basics of financial management.
Higher One provides its services to approximately 6.2 million students at distinguished public and private higher education institutions nationwide. More information about Higher One can be found at HigherOne.com.
SOURCE Higher One