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The prepaid card marketer Green Dot said Friday that it agreed to buy the location-based deals company Loopt.
March 9
The prepaid card marketer Green Dot (GDOT) said Wednesday that it has completed its acquisition of the location-based deals company Loopt.
Green Dot, of Monrovia, Calif., paid roughly $43 million in cash for Loopt. It
Loopt employees will continue to work from its Mountain View headquarters, Green Dot said Wednesday. 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.