Synchrony (NYSE: SYF) announces it completed its acquisition of Ally Lending, the point of sale financing business for Ally Financial (NYSE: ALLY) that includes $2.2 billion of loan receivables. Ally’s loan portfolio includes relationships with nearly 2,500 merchant locations and supports more than 450,000 active borrowers in home improvement services and healthcare. Through this acquisition, Synchrony deepens its presence and reach in the home improvement and health and wellness sectors including high-growth specialty areas such as roofing, HVAC, and windows, as well as in cosmetic, audiology, and dentistry.
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Source: https://www.prnewswire.com/news-releases/synchrony-completes-acquisition-of-ally-lending-302077598.html