Nelnet Business Services Acquires Catholic Faith Technologies

Rhea-AI Summary

On January 26, 2021, Nelnet Business Services (NYSE: NNI) announced its acquisition of Catholic Faith Technologies (CFT), a platform specializing in online learning for faith-based organizations. This strategic move aims to enhance Nelnet's offerings to the faith community while entering new markets. CFT, known for its award-winning SaaS technology, provides customizable training solutions, thus complementing Nelnet's mission to merge service and technology. CFT will continue to operate under its leadership, ensuring alignment in vision and customer service.

Positive

• Acquisition enhances Nelnet's service offerings to the faith community.
• CFT's award-winning SaaS technology provides potential for new market opportunities.
• Strategic alignment of cultures and missions between Nelnet and CFT.

Negative

• None.

LINCOLN, Neb., Jan. 26, 2021 /PRNewswire/ -- Nelnet Business Services, a division of Nelnet, Inc. (NYSE: NNI), is expanding its church technology offerings with the recent acquisition of Catholic Faith Technologies (CFT), an online learning and formation platform company located in Overland Park, KS.

CFT currently offers their learning management technology and services to faith-based organizations as Catholic Faith Technologies and to businesses under the CD2 Learning brand. Their award-winning Software as a Service (SaaS) technology delivers micro-learning opportunities and customizable training platforms to churches, non-profit organizations, and companies across the country.

"The culture and products offered by CFT are in nearly perfect alignment with Nelnet's mission to make dreams possible through service and technology," said Becky Pollock, Managing Director at Nelnet Business Services. "This acquisition will enable us to expand services to our faith community partners, as well as enter into and support new markets."

"The ability for us to continue to serve and grow in both of our primary markets was key to our decision to join Nelnet," said Rich Bartlett, CEO of CFT. "Our organizations have assembled a group of highly-intelligent and hard-working servant leaders, all of whom are incredibly passionate about what they do. Our shared vision and mission will not only enhance our customer offerings but allow us to continue to serve our clients with confidence and humility."

"We are excited to bring Catholic Faith Technologies into Nelnet, alongside our FACTS and Aware3 brands, to expand our ability to serve private and faith-based organizations," said Pollock. "With all of us becoming more dependent upon online tools and mobile applications to facilitate efficient and engaging connections, this is a tremendous opportunity to bring enhanced value to the organizations we serve."

CFT will continue to be led by Bartlett and CFT President, Jay Breeden.

About Nelnet Business Services, Inc.
Nelnet Business Services, a division of Nelnet, Inc. (NYSE: NNI), provides payment technology and community management solutions for K-12 schools, higher education institutions, churches, and businesses in the U.S. and internationally. We serve more than 1,300 higher education institutions and 11,500 K-12 schools across the globe.

About Catholic Faith Technologies

Catholic Faith Technologies (CFT) is changing the way people learn and grow through a scalable cloud platform designed for the modern workforce. Since 2008, CFT has worked with faith groups and organizations of all sizes to support their digital learning and development needs and create new capabilities to meet the rapidly evolving needs of online learners. CFT was built to help organizations streamline and scale mission-critical initiatives while creating touch points to maximize engagement, formation, certifications, centralized communications, and more.

 

View original content:http://www.prnewswire.com/news-releases/nelnet-business-services-acquires-catholic-faith-technologies-301215575.html

SOURCE Nelnet Business Services

FAQ

What is the purpose of Nelnet's acquisition of Catholic Faith Technologies?

The acquisition aims to expand Nelnet's service offerings to faith-based organizations and enter new markets.

What technology services does Catholic Faith Technologies provide?

CFT offers online learning and formation platforms, including customizable training solutions for churches and businesses.

Who will lead Catholic Faith Technologies after the acquisition?

Catholic Faith Technologies will continue to be led by CEO Rich Bartlett and President Jay Breeden.

How will the acquisition impact Nelnet's business?

It is expected to enhance Nelnet's value proposition to private and faith-based organizations by integrating CFT's technology.

When was the acquisition of Catholic Faith Technologies announced?

The acquisition was announced on January 26, 2021.