Higher One Announces Sale Of Company For $5.15 Per Share - Quick Facts

(RTTNews) - Higher One Holdings, Inc. (ONE) announced it has entered into a definitive agreement to sell the company to an affiliate of Blackboard, an education technology company, for $5.15 in cash per share. The all-cash sale has an equity value of $260 million.

"Today's announcement is the culmination of a strategic review process undertaken by our Board, with the assistance of senior management and financial and legal advisors, as first announced in December 2015. After contacting approximately 60 potential bidders and multiple rounds of competitive bidding and negotiations, Higher One is confident the substantial all-cash premium offered by this transaction maximizes shareholder value," said Paul Biddelman, chairman of the Higher One Board.