Rent-A-Center, Inc. (NASDAQ: RCII) 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 in a statement. “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.
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 visit Rentacenter.com.