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 (see story).
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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