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Green Dot completes Loopt acquisition

04 April 2012  |  1701 views  |  0 Source: Green Dot

Green Dot Corporation (NYSE: GDOT), a provider of widely distributed, low-cost banking and payment solutions to a broad base of U.S. consumers, announced it has completed the acquisition of privately-held Loopt, Inc. of Mountain View, California.

Under the terms of the agreement, Green Dot paid approximately $43 million in cash and retention-based incentives in exchange for all shares of Loopt, Inc.

Upon the close of the acquisition, Loopt employees will continue to report to their Mountain View headquarters, and will be integrated into Green Dot's Information Technology organization. 

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