Navient to Sell Govt Services Business to Affiliate of Gallant Capital Partners

Dow Jones

2024-12-23

By Chris Wack

Navient said it is selling its Government Services business to an affiliate of Gallant Capital Partners, a Los Angeles-based investment firm.

The finance and business technology company said its Government Services business includes Navient Business Processing Group, Duncan Solutions, Gila, Pioneer Credit Recovery and Navient BPO.

About 1,200 employees will be included in the transaction, which is expected to close in the first quarter of 2025.

In August, the Herndon, Va., company said it was selling its healthcare services business to CorroHealth for $365 million as part of an effort to simplify its operations.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 23, 2024 09:41 ET (14:41 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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