Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth : vimarsana.com
Press release content from Business Wire. The AP news staff was not involved in its creation. Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth December 21, 2020 GMT PLANO, Texas--(BUSINESS WIRE)--Dec 20, 2020-- 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.