PROG Holdings Acquires Purchasing Power for $420 Million

January 2, 2026

PROG Holdings, the fintech holding company behind Progressive Leasing, has completed its acquisition of Atlanta-based Purchasing Power for $420 million in cash. Purchasing Power, a voluntary employee benefits provider that enables payroll-deduction purchases for employees, will operate as a wholly owned subsidiary to expand PROG's employer-channel reach and financial wellness offerings.

Buyers
PROG Holdings, Inc.
Targets
Purchasing Power
Location
Georgia, United States
Transaction Type
Buyout

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