Navient to buy Earnest for $155 mln

Navient said Oct. 4 that it has agreed to buy Earnest Inc for $155 million in cash. Earnest, of San Francisco, is an online lender. Earnest has raised $300 million venture funding, investors include Maveron and Wildcast Venture Partners. In August, Buyouts reported that Earnest was in sales talks with First Republic. J.P. Morgan Securities LLC provided financial advice to Navient. Barclays advised Earnest.

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