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Rent-A-Center, Inc. Reports Fourth Quarter 2020 Results – Consumer Electronics Net

1 month ago
Diluted EPS $1.00; Non-GAAP Diluted EPS $1.03, up 77.2%
Provides 2021 Guidance Reflecting Approximately 30% Anticipated Accretion from Acima Acquisition
PLANO, Texas–(BUSINESS WIRE)–Rent-A-Center, Inc. (the “Company” or “Rent-A-Center”) (NASDAQ/NGS: RCII) today announced results for the quarter ended December 31, 2020.
“This past year was pivotal for Rent-A-Center,” said Mitch Fadel, Chief Executive Officer. “Strong performance in our Rent-A-Center business and growth in the retail partner channel drove record revenues and earnings despite operational challenges from the COVID-19 pandemic. We made important investments to support our digital strategy, and ended the year with the announcement of our acquisition of Acima, which we believe can significantly accelerate long-term growth and profitability.” ....

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Rent-A-Center Acquires Acima Holdings

Rent-A-Center Acquires Acima Holdings
Rent-A-Center Inc. has acquired
Acima Holdings. Combining Acima’s capabilities with Rent-A-Center’s
Preferred Dynamix platform, the companies expect to provide retailers and consumers an expanding set of fintech services for lease-to-own transactions. 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. “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.” ....

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Rent-A-Center Closes Acquisition of Acima Holdings | Furniture World Magazine

Furniture World News
Rent-A-Center, Inc. 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. “We’ve set out to create the most seamless LTO experience for retailers and consumers alike and are delive ....

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Rent-A-Center Closes Acquisition of Acima Holdings – Consumer Electronics Net

1 month ago
Integrating Acima’s capabilities creates premier fintech platform across traditional and virtual lease-to-own segments
PLANO, Texas–(BUSINESS WIRE)–Rent-A-Center, Inc. (the “Company” or “Rent-A-Center”) (NASDAQ: RCII) today 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. ....

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Rent-A-Center Enters Into Definitive Agreement to Acquire Acima

Furniture World News
By Nic Ledoux on
12/22/2020
Rent-A-Center, Inc. has 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.
Acima is a fast growing, profitable LTO fintech company with a national presence in retail partner stores and e-commerce platforms, and a broad range of product verticals. Founded in 2013 in Salt Lake City, Utah, Acima has grown annual revenues from $97 million in 2016 to an expected $1.25 billion in 2020. Acima will continue to operate out of Salt Lake City and wi ....

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