Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth – Consumer Electronics Net : vimarsana.com
3 months ago Acima operates in over 15,000 active retail partner locations and e-commerce platforms with approximately $1.25 billion in revenue and $225 million in adjusted EBITDA expected for 2020 $1.65 billion cash and stock transaction that expands Rent-A-Center’s position as a premier fintech platform in both the traditional and virtual LTO segments Combination has strong synergy potential and results in estimated pro forma 2020E revenue of approximately $4.1 billion and $540 million in adjusted EBITDA, improving long-term outlook for revenue, profitability and cash flow generation 1 PLANO, Texas–(BUSINESS WIRE)–Rent-A-Center, Inc. (the “Company” or “Rent-A-Center”) (NASDAQ: RCII) today announced that it has entered into a definitive agreement to acquire Acima Holdings LLC, a leading provider of virtual lease-to-own solutions. Total consideration consists of $1.273 billion in cash and approximately 10.8 million shares of Rent-A-Center common stock currently valued at $377 million. The transaction is expected to close in the first half of 2021 subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Further details regarding the Acima acquisition will be discussed in a conference call with investors tomorrow at 8:30am ET and more information is available at investor.rentacenter.com.