CHARLOTTE, N.C., July 13, 2018 /PRNewswire/ — LendingTree, Inc. (NASDAQ: TREE) introduced at the moment that it has entered right into a definitive settlement to amass Student Loan Hero, Inc., a private finance web site devoted to serving to student loan debtors handle their student debt. Student Loan Hero provides present and former students in-depth monetary comparability instruments, academic assets, and unbiased, personalised recommendation.
“The acquisition of Student Loan Hero is a strategic transaction that will allow LendingTree to quickly scale our Student Loan business,” mentioned Doug Lebda, founder and CEO of LendingTree. “On top of that, LendingTree and Student Loan Hero share a common goal of providing consumers with the tools and resources to better understand their personal finances and make smarter financial decisions. We’re excited to welcome Student Loan Hero to the LendingTree team and are confident this will enable LendingTree to expand our reach in the student loan space.”
“We are incredibly excited to join the LendingTree team,” mentioned Andy Josuweit, founder and CEO of Student Loan Hero. “Given LendingTree’s emphasis on consumer empowerment and transparency, we feel confident that this is the right platform for Student Loan Hero to engage more consumers and help them reach their financial goals.”
LendingTree will purchase Student Loan Hero for a complete consideration of $60 million in money to be paid upon closing. The transaction is predicted to shut within the third quarter of 2018, topic to 3rd get together consents and different customary closing situations.
About Student Loan Hero
Student Loan Hero combines easy-to-use instruments with monetary schooling to assist the hundreds of thousands of Americans dwelling with student loan debt handle and repay their loans. Student Loan Hero has helped greater than 200,000 debtors handle and get rid of over $3.5 billion in student loan debt since 2012 and assists over 3.5 million individuals in turning into extra financially wholesome yearly.
Student Loan Hero provides each present and former students free loan calculators and unbiased, personalised recommendation.
Founded in 2012 by CEO Andrew Josuweit, who himself had over $100,000 in student loans, Student Loan Hero operates on the idea that each one loan assist and suggestions ought to include honesty and no hidden agenda.
For extra data, go to www.studentloanhero.com.
About LendingTree, Inc.
LendingTree, Inc. (NASDAQ: TREE) operates the nation’s main on-line loan market and gives customers with an array of on-line instruments and data to assist them discover the perfect loans for his or her wants. LendingTree’s on-line market connects customers with a number of lenders that compete for his or her enterprise, empowering customers as they comparison-shop throughout a full suite of loans and credit-based choices. Since its inception, LendingTree has facilitated greater than 65 million loan requests. LendingTree gives entry to its community of over 500 lenders providing residence loans, residence fairness loans/traces of credit, reverse mortgages, private loans, auto loans, small enterprise loans, credit playing cards, student loans, and extra.
LendingTree, Inc. is headquartered in Charlotte, NC and maintains operations solely in the United States. For extra data, please go to www.lendingtree.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
The issues contained within the dialogue above could also be thought-about to be “forward-looking statements” inside the that means of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements embrace statements relating to the intent, perception or present expectations or anticipations of LendingTree and members of our administration crew relating to the anticipated advantages from the acquisition. Factors at present identified to administration that might trigger precise outcomes to vary materially from these in forward-looking statements embrace the next: the potential failure to acquire third get together consents or fulfill different closing situations; the retention of key workers of Student Loan Hero and the power of the Company to efficiently combine Student Loan Hero to realize anticipated advantages; potential to take care of model recognition for each the Company and Student Loan Hero and to successfully leverage the LendingTree model with the Student Loan Hero model; potential to develop new services and improve current ones; competitors; the potential results of current and new legal guidelines, guidelines or rules; failure to take care of the integrity of programs and infrastructure via integration; and failure to adequately shield mental property rights or allegations of infringement of mental property rights. These and extra components to be thought-about are set forth beneath “Risk Factors” in our Annual Report on Form 10-Ok for the interval ended December 31, 2017 and in our different filings with the Securities and Exchange Commission. LendingTree undertakes no obligation to replace or revise forward-looking statements to mirror modified assumptions, the incidence of unanticipated occasions or modifications to future working outcomes or expectations.
SOURCE LendingTree, Inc.