PROG to acquire Purchasing Power.

PROG, a fintech holding company, agreed to acquire Purchasing Power, a voluntary employee benefit program provider allowing employees to purchase brand-name products and services through either automatic payroll deductions or allotments. Financial terms were not disclosed. “Acquiring Purchasing Power adds a highly complementary and important new platform to our growing ecosystem of payment solutions, further diversifying our product portfolio and advancing our three-pillared strategy to Grow, Enhance and Expand. Together we expect to expand our offerings more quickly and effectively and reach more customers, becoming one of the most diversified providers of financial health and payment services to the near- and sub-prime market," Steve Michaels, PROG Holdings President and Chief Executive Officer.