Green Dot Corp. has completed its acquisition of location-based deals company Loopt, the prepaid card marketer announced April 4.
Monrovia, Calif.-based Green Dot paid roughly $43 million in cash for Loopt. It earlier said that roughly $9.8 million of that would be set aside as a retention pool for certain Loopt employees (
Loopt employees will continue to work from its Mountain View headquarters, Green Dot said. The employees will become part of Green Dot's information-technology organization.
Green Dot previously said that the deal will allow it to build out a mobile wallet and rewards system. The acquisition also would help improve customer retention and target new segments.
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