PLANO, Texas--(BUSINESS WIRE)--Rent-A-Center, Inc. (NASDAQ: RCII) today announced the completion of its previously announced acquisition of Acima Holdings.
Combining Acima’s capabilities with Rent-A-Center’s Preferred Dynamix platform provides retailers and consumers an expanding set of innovative fintech solutions for frictionless lease-to-own (LTO) transactions. The combined company will allow consumers to enjoy the benefits of the Company’s flexible LTO solutions across e-commerce, digital, and mobile channels. The combined business will be led by Preferred Dynamix Executive Vice President Jason Hogg.
“Acima’s technology and stellar team will help accelerate our innovation roadmap enabling us to support current and emerging LTO omnichannel needs of a diversified and growing portfolio of e-commerce and retail partners,” said Mitch Fadel, Chief Executive Officer, Rent-A-Center. “We’ve set out to create the most seamless LTO experience for retailers and consumers alike and are delivering on that goal with the right assets now in place.”
About Rent-A-Center, Inc.
Rent-A-Center, Inc. (NASDAQ: RCII) is an industry leading omni-channel lease-to-own provider for the cash and credit constrained customer. The Company focuses on improving the quality of life for its customers by providing access and the opportunity to obtain ownership of high-quality, durable products via small payments over time under a flexible lease-purchase agreement and no long-term debt obligation. Preferred Lease provides virtual and staffed lease-to-own solutions to retail partners in stores and online enabling our partners to grow sales by expanding their customer base utilizing our differentiated offering. The Rent-A-Center Business and Mexico segments provide lease-to-own options on products such as furniture, appliances, consumer electronics, and computers in approximately 1,950 Rent-A-Center stores in the United States, Mexico, and Puerto Rico and on its e-commerce platform, Rentacenter.com. The Franchising segment is a national franchiser of approximately 460 franchise locations. Rent-A-Center is headquartered in Plano, Texas. For additional information about the Company, please visit our website at Rentacenter.com or Investor.rentacenter.com.
