PROG Holdings to Acquire Purchasing Power, Expands Customer Base, and Growth Strategy.

PROG Holdings is acquiring Purchasing Power, a voluntary employee benefit program provider, to expand its customer acquisition channel and access a new employee-focused consumer base with limited overlap. The acquisition complements PROG Holdings' existing payment solutions, generating new employer-client and partner opportunities, and advancing its long-term growth strategy to provide transparent and inclusive payment options to near- and below-prime consumers.