NASHVILLE, Tenn., Aug. 27, 2013 /PRNewswire/ -- International Scholarship and Tuition Services, Inc., a leading provider of full-service scholarship, grant and tuition program management, announced it has acquired Scholarship & Recognition Programs (SRP), formerly a division of Educational Testing Service (ETS).
Founded as a nonprofit in 1947, ETS advances quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS develops, administers and scores more than 50 million tests annually — including the TOEFL® and TOEIC® tests, the GRE® tests and The Praxis Series™ assessments — in more than 180 countries, at over 9,000 locations worldwide. The SRP division provided program administration services to scholarship-granting organizations such as corporations, foundations and labor unions.
ISTS (www.applyISTS.com) designs, develops and supports scholarship, grant, and tuition assistance and reimbursement programs. ISTS has been a pioneer in converting inefficient paper-based programs to streamlined online processes and administers more than 500 programs every year, assisting more than 600,000 students annually.
The transaction supports ISTS' mission to become the foremost provider of comprehensive program management services and creates an unparalleled resource for innovation, technology, accuracy and service in the industry.
"SRP's significant experience and capabilities strengthens our offerings and makes ISTS the premier full-service provider in nearly every aspect of program management," said Becky Sharpe, President and CEO of ISTS. "They also bring a substantial portfolio of clients to our company, significant intellectual property and a history of superior performance that is entirely consistent with the culture of excellence we maintain."
SRP has supported the ETS mission to help advance quality and equity in education and promote learning for over sixty years through professional delivery of scholarship program design and management.
Bill McCambley, SRP Director, notes, "We are thrilled to now join the ISTS family and continue our dedication to scholarship sponsors and their applicants seeking to fulfill academic goals. ISTS is a successful scholarship management company with a stellar reputation, strong pipeline of clients, and cutting-edge technology which provides first-class service and high levels of customer satisfaction. SRP will join forces with ISTS to focus on offering a comprehensive, scalable, fully configurable, equitable, and competitive scholarship program design and management alternative for scholarship program sponsors."
About International Scholarship and Tuition Services, Inc. (ISTS)
Founded in 1985, International Scholarship and Tuition Services, Inc. provides comprehensive scholarship, grant and tuition program management. ISTS is a 100% women-owned company, focused on offering cutting-edge technology and sustainable solutions to corporations, foundations, associations, unions and other scholarship-granting organizations worldwide. For more information about ISTS, visit www.applyISTS.com.
About Educational Testing Service (ETS)
At ETS, we advance quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS serves individuals, educational institutions and government agencies by providing customized solutions for teacher certification, English language learning, and elementary, secondary and post-secondary education, as well as conducting education research, analysis and policy studies. Founded as a nonprofit in 1947, ETS develops, administers and scores more than 50 million tests annually — including the TOEFL® and TOEIC® tests, the GRE® tests and The Praxis Series™ assessments — in more than 180 countries, at over 9,000 locations worldwide.
SOURCE International Scholarship and Tuition Services, Inc.