Walmart-backed bank holding company Green Dot has bought venture-backed Loopt, a mobile application company, for $43.4m in cash.
Green Dot floated in 2010 raising a more-than-expected $164.1m at its flotation, which came two months after US-based retailer Wal-Mart Stores made a strategic investment in the company.
Loopt was backed by venture firms Sequoia Capital, New Enterprise Associates and Maverick Capital,