Latest / Breaking News To Trading Moves
PROG Holdings Acquires Purchasing Power: Payroll Fintech Shift
PROG Holdings Closes $420M Purchasing Power Acquisition (Payroll-Deduction Fintech Deal)
Intro
Today’s story is a fintech distribution upgrade: PROG Holdings ($PRG) just closed its $420M cash acquisition of Purchasing Power, an employee benefit platform that lets workers buy products/services through automatic payroll deductions.
What happened
$PRG bought Purchasing Power for $420M cash (funded with cash on hand + debt financing).
Purchasing Power brings a large employer channel (millions of employees and hundreds of employer partnerships), plugging directly into payroll systems for…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.