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Ellucian(TM): New Company Name Announced for Datatel and SunGard Higher Education Combination

The recent combination of two education technology leaders, Datatel and SunGard Higher Education, has a new name: Ellucian™.
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Datatel and SunGard Higher Education combine and operate as one company.

Datatel and SunGard Higher Education have combined businesses and are now one company focused exclusively on serving global education. The strategic combination brings together two education industry specialists into one company with increased breadth and scale to meet the needs of institutions worldwide

Datatel Sets Rate on $1.195 Billion of Acquisition Loans

Datatel Inc., the software company owned by Hellman & Friedman LLC, set the interest rate on $1.195 billion of loans it’s seeking to finance its acquisition of SunGard Higher Education, according to a person with knowledge of the transaction. A $1.07 billion term loan B due in 2018, will pay 5 percentage points more than the London interbank offered rate, said the person, who declined to be identified because the terms are private. Libor, a rate banks charge to lend to each other, will have a 1.25 percent floor.
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Datatel and SunGard Higher Education Combination Clears Regulatory Review

Hellman & Friedman, Datatel, SunGard Data Systems and SunGard Higher Education today announced that the proposed combination of Datatel and SunGard Higher Education has cleared Department of Justice review and the companies are preparing to close the transaction in the first quarter of 2012. As a result of this combination, over 3,000 employees will be dedicated exclusively to delivering solutions to education institutions in 40 countries.

Datatel Said to Seek $1.2 Billion in Loans for SunGard Deal

Datatel Inc., the software company owned by Hellman & Freidman LLC, is seeking $1.195 billion in loans to finance its acquisition of SunGard Higher Education, according to a person with knowledge of the transaction.