PROG Holdings, Inc. (NYSE: PRG), the fintech holding company for Progressive Leasing, Four Technologies, and Build, today announced that it has completed its previously announced acquisition of Purchasing Power, a leading voluntary employee benefit program that enables workers to purchase brand-name products and services through automatic payroll deductions or allotments.

“We are excited to officially welcome Purchasing Power to the PROGHoldings family,” said Steve Michaels, President and Chief Executive Officer. “This acquisition will strengthen our ability to reach consumers through an employer-based channel and supports our long-standing commitment to improve financial access and inclusion for our customers.”

The acquisition expands the reach of PROG’s transparent and flexible payment solutions. Purchasing Power partners with many of the nation’s largest employers—providing more than 7 million employees access to responsible purchasing options and financial wellness tools through a platform integrated directly with payroll systems for seamless transactions and predictable repayment flows. The acquisition also strengthens PROG Holdings’ reach and relationships across its ecosystem as Purchasing Power brings more than 360 employer partnerships.

With the transaction complete, Purchasing Power becomes a wholly owned subsidiary of PROG Holdings. The combined organization expects to leverage shared technology and operational capabilities to expand offerings, strengthen client relationships, deepen customer engagement, and support long-term growth.

Under the terms of the transaction announced on December 1,2025, PROG Holdings acquired Purchasing Power for $420 million in cash, funded through a combination of cash on hand and debt financing.