Green Dot (GDOT +3%) trades higher after announcing it's spending $43M to acquire Loopt, a...

|About: Green Dot Corporation (GDOT)|By:, SA News Editor

Green Dot (GDOT +3%) trades higher after announcing it's spending $43M to acquire Loopt, a developer of mobile apps that allow users to obtain and share information about local businesses. Green Dot claims Loopt will help boost sales of its prepaid debit cards, and allow Green Dot to become a leader in mobile payments and rewards. It's also claimed Loopt holds several valuable patents that are relevant to mobile marketing. (previously)