Green Dot Completes Loopt Buy

Monrovia-based Green Dot, the provider of prepaid debit card products, reports today that it has completed its acquisition of Mountain View-based mobile social networking developer Loopt. The deal was worth approximately $43M in cash. Green Dot had announced the acquisition in March. The buy gives Green Dot access to both Loopt's mobile social networking software, but also a stable of developers in Mountain View. Green Dot said that Loopt's employees will continue to report to their Mountain View headquarters, and will become part of its information technology organization.