Firespring acquired Cost Effective Technologies, Inc. from Nelnet, Inc. and other investors.
January 02, 2014 at 09:30 am IST
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Firespring acquired Cost Effective Technologies, Inc. from Nelnet, Inc. (NYSE:NNI) and other investors on January 2, 2014. Cost Effective Technologies, Inc. will be branded as a product of Firespring and Tom Nielsen, the founder of Cost Effective Technologies, Inc., will serve as the President of the division. The combined companies will employ 115 people at their headquarters in south Lincoln.
Firespring completed the acquisition of Cost Effective Technologies, Inc. from Nelnet, Inc. (NYSE:NNI) and other investors on January 2, 2014.
Nelnet, Inc. operates businesses that are engaged in loan servicing and education technology services and payments. The Company's segments include Loan Servicing and Systems (LSS), Education Technology Services and Payments (ETSP), Asset Generation and Management (AGM), and Nelnet Bank. The LSS segment is focused on student and consumer loan servicing, loan servicing-related technology solutions and outsourcing business services. This segment includes the brands Nelnet Diversified Solutions, Nelnet Government Services and others. The ETSP segment provides education and payment technology and services for K-12 schools, higher education institutions, churches, and businesses in the United States and internationally. The AGM segment includes the acquisition and management of student and other loan assets, including investment interests therein. The Nelnet Bank includes an Internet Utah-chartered industrial bank focused on the private education and unsecured consumer loan markets.
NELNET, INC. 
