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Blackboard Inc. agreed to buy education payment services provider Higher One Holdings Inc. (NYSE: ONE) for $260 million in cash. The purchase price represents a 37.3 percent premium over Higher One’s June 29 stock price of $3.75.

Higher One is known for the CashNet software program that is designed to automate payments, allows students and parents to electronically pay tuition, and setup customized payment plans. The target serves more than 700 campuses. Higher One acquired CashNet in 2009. “Providing students and parents with a comprehensive set of tools that assist them in managing tuition payments is a critical piece of the access equation,” says Blackboard senior vice president David Marr.

In other education related deals, Apollo Global Management LLC (NYSE: APO) has a deal in place for University of Phoenix owner Apollo Education Group Inc. (Nasdaq: APOL); DeVry Education Group (NYSE: DV) said it will acquire financial crime prevention training organization the Association of Certified Anti-Money Laundering Specialists (ACAMS); and Weld North Holdings is expanding in the data and educational analytics technology market with the purchase of Performance Matters.

Raymond James Financial Inc. (NYSE: RJF) is advising Higher One, which is being represnted by Cleary Gottlieb Steen & Hamilton LLP.

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