OneMain (OMF) Closes Foursight Deal Amid Auto Expansion Move [Yahoo! Finance]
OneMain Holdings, Inc. (OMF)
Last onemain holdings, inc. earnings: 4/27 04:30 pm
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Source: Yahoo! Finance
As part of its efforts to expand into the automobile lending business, OMF announced the transaction in November 2023. Being an automobile finance company, Foursight purchases and services automobile retail installment contracts primarily made to near-prime borrowers across 38 states. The contracts are sourced through an extensive network of dealers. OneMain, which is the leader in offering non-prime customers responsible access to credit, acquires Foursight's $900 million of loan portfolio. Nearly 200 Foursight employees will join OMF. At the time of the deal announcement, Doug Shulman, the chairman and CEO of OneMain, stated, “Foursight is an attractive tuck-in acquisition giving us a seasoned team, scalable technology, tested credit models, a franchise dealer network and a high-quality loan portfolio to support our disciplined expansion into the auto lending business. I look forward to welcoming Mark Miller and the Foursight team to OneMain and working together to continue to
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OMF
Earnings
- 2/7/24 - Beat
OMF
Sec Filings
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- OMF's page on the SEC website