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Higher One Holdings, Inc. Announces Sale Of Campus Labs

The following excerpt is from the company's SEC filing.

Higher One to Receive Gross Proceeds of $91 Million

– Higher One Holdings, Inc. (NYSE: ONE), today, announced that, on October 14, 2015, it reached an agreement to sell its Campus Labs data analytics business to an affiliate of Leeds Equity Partners for a gross purchase price of $91 million cash. This purchase price is subject to certain closing adjustments including adjustments for working capital. The working capital adjustments will be determined at the time of closing, but may reduce the purchase price by $5 million to $7 million. The transaction is subject to ne cessary government, regulatory and creditor approvals and is expected to close by the end of November 2015.

Campus Labs provides a software platform for colleges and universities to make data-driven, strategic decisions ranging from accreditation to student retention to effective operations.

“We acquired Campus Labs in 2012 to broaden our relationships on college and university campuses as well as bring our existing products and services to the Campus Labs client base. And while we have helped that business grow and...