Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth
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 generation1 PLANO, Texas–(BUSINESS WIRE)–Rent-A-Center, Inc. (the “Company” or “Rent-A-Center”) (NASDAQ: RCII) today announced that it has entered into…