PROG Holdings Inc. has announced an agreement to acquire Purchasing Power for $420 million in cash. The transaction is expected to contribute between $50 million and $60 million in adjusted EBITDA in 2026. Purchasing Power is an e-commerce platform that enables employees to buy goods and services and pay via direct payroll deduction. The acquisition broadens PROG Holdings' reach by providing access to over 7 million employees across more than 360 employer clients, including public sector organizations. This move is intended to expand PROG Holdings' ecosystem within the near and sub-prime market and diversify its customer acquisition channels, particularly among large employers with stable workforces. You can access the full presentation through the link below.