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SOURCE FACTS Management Company
LINCOLN, Neb., June 3, 2014 /PRNewswire/ -- FACTS Management, the leader in payment plan solutions for K–12 schools, has acquired RenWeb School Management Software, one of the leading school information systems for private and faith-based schools.
RenWeb currently helps over 3,000 schools automate administrative processes like admissions, scheduling, student billing, attendance and grade book management. By automating these tasks, RenWeb gives teachers more time to shape the lives of students while saving money and resources. FACTS helps over 6,500 schools with tuition management, billing, and financial aid assessment services.
"RenWeb is the premier student information system for private and faith-based K–12 schools," said Tim Tewes, CEO of FACTS. "Together, we'll help make educational dreams possible for students, families, and administrators. Our goal is to change a paradigm and shape the future of school management solutions, making it simple and convenient for administrators, teachers, and families to interact."
The combination of RenWeb's school administration software and FACTS' tuition management and financial needs assessment services will increase the value of FACTS' offerings, allowing the company to deliver deeply integrated platforms and services to more than 8,500 school customers. Both FACTS and RenWeb will continue their longstanding support of school clients by continuing to offer integration with other systems that share similar goals of supporting private and faith-based education.
"We're thrilled to join FACTS," said Brad Lee, CEO of RenWeb. "We share similar values and a focus on providing superior service and technology to private and faith-based schools. The technology we will provide as one organization will make life easier for schools and families."
RenWeb will continue to be led by Lee and its 130 associates headquartered in Burleson, Texas. As a part of the FACTS product suite, RenWeb will also keep its product brand name.
Baker Pacific acted as exclusive financial advisor to RenWeb on the transaction.
About FACTS Management Company
FACTS, www.factsmgt.com, a Nelnet company (NYSE: NNI), of Lincoln, Neb., is committed to making educational dreams possible for families and students, as well as enhancing the financial stability and affordability of educational institutions. FACTS serves more than one million families at over 6,500 schools, and manages $6.9 billion in tuition funds annually. FACTS offers a comprehensive suite of services including tuition management, payment administration and processing, and financial needs assessment.
RenWeb's power, integration, ease-of-use and affordability are demonstrated daily in more than 3,000 customer schools as the leading provider of next-generation Internet-based school information systems. RenWeb's unmatched convenience and service include complete installation of the software, including conversion of data, along with a client interface that provides easy access to more than 300 integrated features. Developed by a university dean, RenWeb is leading the migration of schools from client server-based to Web-based systems, bringing administration, parents, students, and the classroom together with anytime, anywhere access to a full range of services. Features include Admissions, Enrollment, Scheduling, Student Billing, Lunchroom Management, Health Management, Attendance, Homework, Lesson Plans, Grade Book, Report Cards, Transcripts, Extensive Reporting Capabilities, Automated Emailing, and ParentsWeb. For more information about RenWeb and its affordable payment plans for schools of all sizes, visit www.RenWeb.com.
Information contained in this press release, other than historical information, may be considered forward-looking in nature and is subject to various risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or expected. Among the key factors that may have a direct bearing on Nelnet's operating results, performance, or financial condition expressed or implied by the forward-looking statements are the uncertain nature of the expected benefits from the acquisition and the ability to successfully integrate operations, changes in the marketplace, or changes in the demand for school information systems.
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