Well, this is an odd one.
Green Dot, a company that provides prepaid debit cards to consumers, has acquired mobile location-based application developer Loopt for $43.4 million, the companies announced today. The deal is an all-cash transaction, and will include Green Dot setting aside $9.8 million as a "retention pool" to ensure key Loopt employees stay put.
Though Green Dot's Loopt acquisition might not make sense at first glance, considering how different the companies are, it appears Green Dot has bought the firm for its mobile-development expertise. In a statement celebrating the acquisition, Loopt co-founder … Read more