Navient Corporation (NAVI) announced the completion of the sale of its Government Services business to Gallant Capital Partners.
The company delivers technology-driven outsourced business processing solutions for U.S. federal, state, and local government clients. As a key player in the tolling and parking technology sector, NGS also offers essential services such as call center support, revenue recovery, program management, and payment processing for government agencies.
Navient's Government Services business, now part of the acquisition, encompasses Navient Business Processing Group, Duncan Solutions, Gila, Pioneer Credit Recovery, and Navient BPO. NGS specializes in tech-enabled processing, collections, and record lookups for tolling and parking authorities, as well as outsourced government program management, revenue management, and payment processing solutions. The acquisition includes approximately 1,200 employees.
NAVI is currently trading at $14.1 or 0.57% higher on the Nasdaq Global Select Market.
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