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Gallant Capital Partners has announced a definitive agreement to acquire Navient 's (NAVI) Government Services business (NGS). The acquisition target, NGS, specializes in tech-enabled outsourced business processing for U.S. government clients, with leadership positions in tolling and parking technology services. The company also provides critical services including call center support, revenue recovery, program management, and payment processing.

The transaction is anticipated to close in Q1 2025, subject to certain conditions. This deal marks Gallant's second corporate carveout within the past year and will be the third platform investment from Gallant Capital Partners II fund.

Navient (NAVI) has announced an agreement to sell its Government Services business to Gallant Capital Partners, The sale encompasses multiple business units including Navient Business Processing Group, Duncan Solutions, Gila (D.B.A Municipal Services Bureau), Pioneer Credit Recovery, and Navient BPO. The transaction, which will involve approximately 1,200 employees, is expected to close in the first quarter of 2025, subject to certain conditions. Houlihan Lokey and WilmerHale served as advisors to Navient on the transaction.

Navient (NAVI) has announced its fourth quarter dividend for 2024. The company's board of directors has approved a dividend payment of $0.16 per share on common stock. The dividend will be distributed on December 20, 2024, to shareholders who are on record as of the close of business on December 6, 2024.

Navient (NAVI) has announced the release of its 2024 third quarter financial results. The company will host a live audio webcast on October 30, 2024, at 8 a.m. ET, featuring CEO David Yowan and CFO Joe Fisher. Complete financial results are accessible on Navient's website and will be filed with the SEC via Form 8-K. Analysts and investors wanting to participate must pre-register 15 minutes before the webcast, while others can join in listen-only mode without registration. Supplemental materials will be available at the start of the call, with a replay accessible approximately two hours after conclusion.

Navient (Nasdaq: NAVI) has been recognized for the third year as a Best Place to Work for Working Daughters by Working Daughter, a community for women balancing eldercare with careers. The annual list highlights companies that support family caregivers and raises awareness of how businesses make caregiving and professional success compatible.

Working Daughter reports that more than one in six working Americans assist with the care of elderly or disabled family members, with 70% of caregivers facing work-related difficulties due to their dual roles. Navient offers various employee benefits to support working caregivers, including dependent care assistance, employee resource groups, and mental health and wellbeing programs.

Patty McKeown, Navient's chief human resources officer, emphasized the company's commitment to helping employees fulfill commitments to families of all kinds while ensuring their success at work.

Navient (Nasdaq: NAVI) has announced it will release its 2024 third quarter financial results on Wednesday, Oct. 30, 2024, at 7:00 a.m. Eastern Time. The company will host an audio webcast to review these results at 8:00 a.m. on the same day. The results will be available on Navient's investor website and filed with the SEC on Form 8-K.

Analysts and investors who wish to ask questions during the webcast are required to pre-register at least 15 minutes before the start time to receive personal dial-in access details. Those who want to listen without asking questions can access the webcast directly from Navient's investor website. A replay of the webcast will be made available approximately two hours after the event concludes.

Navient (Nasdaq: NAVI) has reached an agreement with the Consumer Financial Protection Bureau (CFPB) to resolve long-standing litigation and investigations. While not agreeing with the CFPB's allegations, Navient views this resolution as a positive milestone in its corporate transformation. The company has exited the federal student loan servicing business, transferring its contract to a third party in 2021 with Department of Education approval. Additionally, Navient has outsourced servicing of its legacy FFELP student loan portfolios, effective July 1, 2024. Moving forward, Navient will oversee its third-party servicing provider to ensure compliance with the agreement's operational terms.

Navient (Nasdaq: NAVI) has announced its third quarter dividend for 2024. The company's board of directors has approved a dividend of $0.16 per share on common stock. This dividend will be paid on September 20, 2024, to shareholders who are on record at the close of business on September 6, 2024. This announcement demonstrates Navient's commitment to providing regular returns to its shareholders and maintaining its dividend policy.

Navient (Nasdaq: NAVI) has agreed to sell its Healthcare Services business, operating as Xtend Healthcare, to CorroHealth for $365 million in cash. This move aligns with Navient's strategy to simplify operations, reduce expenses, and enhance flexibility. The deal, expected to close by September 2024, will transfer approximately 950 employees to CorroHealth.

As of June 30, 2024, the Healthcare Services business had a book value of about $136 million, including $113 million in goodwill and intangible assets. Navient is also in discussions to potentially sell its Government Services businesses, which had a book value of $192 million as of the same date.