February 1, 2002
SCT to Buy Sallie Mae's Software Arm
The SCT Corporation says it will pay about $15.5-million to buy Sallie Mae's Student Information Systems Business. The deal includes two software packages, the Exeter Student Suite and Campus Loan Manager, which complement SCT's two main administrative-computing software programs, Banner and Plus.
Sallie Mae, the nation's largest financer and manager of student loans, decided to sell the assets just two years after getting into the software business, said Jim Boyle, vice president for
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