Nelnet acquires Peterson's from Thomson Corp.

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By The Lincoln Journal Star

Student loan company Nelnet Inc. of Lincoln announced Thursday it has acquired Peterson’s, a leading provider of education and career guidance, from The Thomson Corporation.

Terms of the deal were not disclosed.

Peterson's says it provides education and career-related services in education search, test preparation, admissions, financial aid information, and career assistance.  The company reaches an estimated 105 million consumers annually with its publications and online information about colleges and universities, career schools, graduate programs, distance learning, executive training, private secondary schools, summer opportunities, study abroad, financial aid, test preparation, and career exploration resources.

“Since 1966, Peterson's has been a trusted name for students, families, and schools,” said Steve Butterfield, Nelnet vice chairman and co-chief executive officer.  "Quite simply, they are a great resource to help students select the right educational experience, prepare for admission tests, explore ways to pay for their education, and advance their careers. In addition, Peterson's has earned a reputation for helping schools find and recruit students,” he said.

Butterfield said the Peterson’s acquisition would enhance the college planning and career services Nelnet offers to students and families.

Peterson's will become a part of Nelnet's Education Services division, the company said.  It will continue to provide services under the Peterson’s name and maintain existing leadership.  Based in Lawrenceville, N. J., Peterson's employs approximately 220 people.

Though Nelnet said it expects the acquisition to have long-term positive effect on revenue and earnings, the company said it expects the deal to have negative effect on 2006 earnings.