Synchrony Financial Acquires Allegro Credit
Synchrony Financial (NYSE: SYF) is soon to be one asset larger if an agreed deal goes through. The store payment card specialist announced Tuesday that it has signed a definitive agreement to acquire privately held Allegro Credit. The price of the transaction was not disclosed.
Owning Allegro would complement Synchrony's client base, which is still concentrated on the retail stores that have collectively taken an enormous hit due to the economic fallout of the coronavirus pandemic. The somewhat eclectic Allegro specializes in consumer financing solutions for audiology products, musical instruments, and dental services. Its point-of-sale service network covers 3,200 merchants.
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Source Fool.com
