In a significant move, payments software company Flywire has successfully acquired StudyLink, an Australian education software-as-a-service (SaaS) company. The acquisition, valued at approximately $38.8 million, includes $34.9 million in cash and up to $3.9 million in contingent consideration. This strategic move, announced in a Tuesday news release, reinforces Flywire’s commitment to global expansion within the education vertical.
Flywire, headquartered in Boston, specializes in payment solutions across various sectors, including education, healthcare, travel, and business-to-business. The company distinguishes itself by embedding its software and payments technology directly into existing accounts receivable workflows. CEO Mike Massaro has emphasized that Flywire targets markets where cross-border payments face slower digitization, often involving complex software processes.
The acquisition of StudyLink follows Flywire’s strategic pattern of expansion through acquisitions. The company had previously acquired Australian firm Cohort Go in July 2022 and the UK-based WPM in December 2021, showcasing a proactive approach to growth through targeted acquisitions.
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StudyLink, based in Adelaide, Australia, is recognized for its cloud-based software offerings tailored for universities and education agents. The company specializes in streamlining student admissions, application processes, and agent management, catering to universities throughout Australia.
Flywire’s move to acquire StudyLink aligns with its broader objective of advancing global reach, particularly in the education sector. This strategic alignment seeks to leverage StudyLink’s expertise in international student admissions and application management to enhance Flywire’s position in serving educational institutions.
The payment landscape, especially in sectors like education, is witnessing a shift toward digital solutions. Flywire’s focus on integrating payments seamlessly into existing workflows positions the company as a key player in facilitating financial transactions within the education vertical.
CEO Mike Massaro had previously expressed Flywire’s intention to actively seek acquisitions, and the recent StudyLink acquisition underscores this commitment. The combination of Flywire’s payments technology with StudyLink’s application and enrollment platform is designed to create a comprehensive solution, streamlining the entire student payment journey. This includes processes from admissions to deposit and tuition payments, extending to strategic payables like agent commissions.
Despite the acquisition, StudyLink will maintain its presence in Adelaide, reflecting Flywire’s strategy to retain and integrate the acquired talent and expertise. This move is expected to contribute to the continued growth and development of the integrated solutions offered by Flywire and StudyLink.
The acquisition of StudyLink by Flywire is part of a broader trend in the payments industry, where companies are actively engaging in strategic acquisitions to strengthen their market positions and broaden their service offerings. In recent weeks, other payment companies, such as Shift4 Payments, Fiserv, and NMI, have also announced significant acquisitions, showcasing the dynamic nature of the payments landscape.
As the payments industry continues to evolve, strategic acquisitions play a pivotal role in shaping companies’ capabilities, expanding market reach, and enhancing their ability to provide innovative solutions. For Flywire, the StudyLink acquisition represents not only a strategic investment in the education sector but also a move to consolidate its position as a leading player in the global payments landscape.
