PROG completed the acquisition of Purchasing Power for $420m.

PROG, a fintech holding company, completed the acquisition of Purchasing Power, a voluntary employee benefit program provider allowing employees to purchase brand-name products and services through either automatic payroll deductions or allotments, for $420m. “We are excited to officially welcome Purchasing Power to the PROG Holdings family. This acquisition will strengthen our ability to reach consumers through an employer-based channel and supports our long-standing commitment to improve financial access and inclusion for our customers.” Steve Michaels, PROG Holdings President and Chief Executive Officer.