TPG Capital and Leonard Green Partners have agreed to buy Ellucian. The sellers are Hellman & Friedman and JMI Equity. Financial terms weren’t announced but Reuters valued the deal at $3.5 billion. Fairfax, Virginia-based Ellucian provides software to universities and colleges. Morgan Stanley & Co. LLC, BofA Merrill Lynch, BMO Capital Markets Corp., and Barclays served as financial advisors to TPG and Leonard Green. Credit Suisse and Goldman, Sachs & Co. served as financial advisors to Ellucian.