Products April 7, 2005

BISYS Sells Educational Services Unit to Kaplan

April 7, 2005 (PLANSPONSOR.com) - BISYS has sold its Education Services business to Kaplan Professionals, according to both companies.

Reported by

Kip McDaniel

BISYS, a provider of outsourcing solutions for the financial sector, had said on March 31 in a news release that it intended to sell the unit. On Thursday, both Kaplan, a provider of educational services, and BISYS said that the unit – which provides licensing education and compliance solutions for financial firms and professionals – announced the sale.

The deal is still subject to normal closing conditions; both companies expect the deal to close in the next several weeks.

“In an increasingly complex regulatory environment, our institutional customers require strategic, tailored solutions,” said Andrea Mainelli, Kaplan Professional Senior Vice President and Chief Operating Officer, in a press release. “We can now offer a single source for all their education and compliance needs.”