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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.”

Texas , United-states , Mexico , Puerto-rico , California , Canada , Mitch-fadel , Company-or , Company-preferred-lease , Acima-holdings , Dynamix , Nasdaq

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.”

Mitch-fadel , Jason-hogg , Acima-holdings , Dynamix , Combining-acima , Preferred-dynamix , மிட்ச்-பாடேல் , ஜேசன்-ஹாக் , அசிமா-ஹோல்டிங்ஸ் , டைனமிக்ஸ் , ப்ரிஃபர்ட்-டைனமிக்ஸ் ,

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 delivering on that goal with the right assets now in place.”

Jason-hogg , Mitch-fadel , Acquisition-of-acima-holdings , Acima-holdings , Dynamix , Renta-center-closes-acquisition , Nic-ledoux , Preferred-dynamix , Preferred-dynamix-executive-vice-president-jason , Chief-executive-officer , Renta-center , Closes

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.

Mexico , Puerto-rico , United-states , Texas , Mitch-fadel , Jason-hogg , Company-or , Actual-agency-for-preferred-dynamix , Acima-holdings , Dynamix , Nasdaq , Integrating-acima

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 will incorporate the complementary Preferred Dynamix platform to create a frictionless LTO experience for consumers and retail partners. Upon the closing of the transaction, the current Acima management team will report to Preferred Dynamix Executive Vice President Jason Hogg, and the combined business will be reported in the Preferred Lease segment.

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Rent-A-Center Agrees to Buy Acima Holdings in $1.6 Billion Deal

Rent-A-Center Agrees to Buy Acima Holdings in $1.6 Billion Deal
Nabila Ahmed, Bloomberg News
New homes stand at the Lexington Country development in Frisco, Texas, U.S., on Saturday, Nov. 17, 2018. Hot markets are cooling fast as interest rates rise. In the great housing slowdown of 2018, shoppers are reclaiming the upper hand, after years of soaring prices that placed most inventory out of reach for many families. Photographer: Laura Buckman/Bloomberg
, Bloomberg
(Bloomberg) -- Rent-A-Center Inc. is acquiring online lease-to-own provider Acima Holdings LLC in a cash-and-stock deal valued at more than $1.6 billion.
The transaction will include $1.27 billion in cash and about 10.8 million shares of Rent-A-Center common stock currently valued at $377 million, the Plano, Texas-based company said. The deal is expected to close in the first half of 2021.

Mexico , Puerto-rico , Salt-lake-city , Utah , United-states , Texas , Jason-hogg , Mitch-fadel , Jpmorgan-chase-co , Bloomberg-inc , Credit-suisse-group , Acima-holdings

Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth

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.

Texas , United-states , Mexico , Puerto-rico , Salt-lake-city , Utah , Canada , Rosen-katz , Mitch-fadel , Brian-regan , Jason-hogg , Aaron-allred

Rent-A-Center to Acquire Acima, for $1.650 Billion

Rent-A-Center, Inc. (NASDAQ: RCII), a Plano, Texas-based omni-channel lease-to-own provider for the credit constrained customer, is to acquire Acima Holdings LLC, a 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 $377m. 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 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 will incorporate the complementary Preferred Dynamix platform to create a frictionless LTO experience for consumers and retail partners.

Mexico , Puerto-rico , United-states , Salt-lake-city , Utah , Texas , Jason-hogg , Mitch-fadel , Acima-holdings , Dynamix , Nasdaq , Hart-scott-rodino-antitrust-improvements

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

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.

Texas , United-states , Mexico , Puerto-rico , Salt-lake-city , Utah , Canada , Rosen-katz , Mitch-fadel , Brian-regan , Jason-hogg , Aaron-allred

Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth – IT Business Net

Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth – IT Business Net
itbusinessnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from itbusinessnet.com Daily Mail and Mail on Sunday newspapers.

Texas , United-states , Mexico , Puerto-rico , Salt-lake-city , Utah , Canada , Rosen-katz , Mitch-fadel , Brian-regan , Jason-hogg , Aaron-allred