Flywire, a global payments enablement and software company headquartered in Boston, USA has acquired Studylink, a platform that streamlines and integrates international applications and enrollments into admissions systems from Navitas for a reported $60m.
In a release issued by flywire they say “The acquisition is expected to build on Flywire’s existing education payments business by enhancing the value it provides to its global client, agent and payer base, and is expected to further accelerate its market share in the Australian education sector. Flywire intends to expand upon StudyLink’s existing and successful track record of providing top-tier solutions in Australia, where Flywire estimates that there are more than 600,000 higher education international students, with 75% of them being placed through education agents.”
The acquisition of StudyLink is a continuation of Flywire’s long-term plan to supplement its strong organic growth and continually expand across all business lines. The acquisition is expected to be modestly accretive to revenue growth and Adjusted EBITDA following medium-term topline synergies.
Flywire will also expand its existing relationship with Navitas, as a key payments partner for Navitas’s campuses and colleges worldwide. This expanded relationship, together with StudyLink’s extensive roster of leading education clients and network of 20,000 agents, present meaningful growth opportunities for Flywire.
“As we continue to embed deeper into the workflows of our clients and power their vertical ecosystems, we seek opportunities that will help us enhance our value proposition and accelerate growth,” said Mike Massaro, CEO of Flywire.
“This acquisition enhances the StudyLink and Flywire offering to our shared stakeholders in the higher ed ecosystem, and gives us the opportunity to invest even more in our joint solutions to help institutions, agents and payers get even more from our offerings. With such an innovative platform, we are thrilled to have the opportunity to leverage our global capabilities and teams to help accelerate Studylink’s growth internationally beyond Australia. We are pleased to build on our strong track record of strategic acquisitions that supplement our continued organic growth, and underscore our core thesis that software drives value in payments.” He said.
The full announcement can be seen here.
