PROG Holdings, Inc. acquired Four Technologies, Inc. for $22.7 million.
July 12, 2021
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PROG Holdings, Inc. (NYSE:PRG) acquired Four Technologies, Inc. for $23.5 million on June 25, 2021. The consideration will be paid in the form of $23.5 million in cash, inclusive of cash acquired of $0.5 million. The purchase price is subject to a working capital adjustment that will take place 90 days after the acquisition date.
PROG Holdings, Inc. (NYSE:PRG) completed the acquisition of Four Technologies, Inc. for $22.7 million on June 25, 2021. The purchase price of $22.7 million in cash is inclusive of cash acquired of $0.53 million and after preliminary working capital adjustment.
PROG Holdings, Inc. is a fintech holding company that provides payment options and inclusive consumer financial products. Its Progressive Leasing segment is provider of e-commerce, app-based, in-store point-of-sale lease-to-own solutions provider. The segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce Website partners. It does so by purchasing the merchandise from the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-own transaction. Its Vive segment primarily serves customers that may not qualify for traditional prime lending offers who desire to purchase goods and services from participating merchants. Vive offers customized programs with services that include revolving loans through private label and Vive-branded credit cards. Its Four segment provides consumers of all credit backgrounds with BNPL options through four interest-free installments.
PROG HOLDINGS, INC. 
