Atlanticus Holdings Corporation (NASDAQ: ATLC) announced on 2025‑10‑22 that it has acquired the Vive Financial credit card receivables portfolio from PROG Holdings, Inc. (NYSE: PRG). The deal involves a $165 million purchase of receivables and a $150 million cash payment to PROG, marking a significant expansion of Atlanticus’s Credit as a Service (CaaS) portfolio.
Under the terms of the agreement, PROG will receive approximately $150 million in cash while Atlanticus will take ownership of roughly $165 million in credit card receivables. The transaction also includes a transition services agreement that will see Vive Financial cease loan‑servicing activities, with PROG and Atlanticus coordinating to ensure a smooth handover for customers and retail partners.
The acquisition is expected to enhance Atlanticus’s managed receivables base, adding new private‑label and general‑purpose credit card accounts to its existing portfolio. By integrating the Vive portfolio, Atlanticus can leverage its AI‑driven decisioning platform to further penetrate the near‑prime consumer segment and generate additional fee and interest income.
PROG Holdings indicated that it will provide further financial details on the transaction during its upcoming third‑quarter earnings call, but the immediate effect is a clear increase in Atlanticus’s asset base and a broadened customer reach within the underserved credit market.
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