Thursday, December 12, 2013

LifeLock Acquires Lemon's Mobile Wallet Software For $42.6M

Tempe, Arizona-based LifeLock announced this morning that it has acquired Lemon, a developer of mobile wallet software, for $42.6M in cash, plus equity earnout over the next three years. LifeLock said it will use Lemon to help launch a new app to help consumer manage and protect their digital identity. Lemon develops a mobile wallet application which helps users store a digital copy of their wallet contents--including credit cards, identification cards, ATM, insurance, and loyalty cards. The new app is called LifeLock Wallet, and provides the same capabilities as Lemon's Wallet Plus app for iOS and Android. Lemon was venture backed by Maveron, Lightspeed Venture Partners, CampVentures, Draper Fisher Jurvetson, and The Social+Capital Partnership, and had raised only around $8M in funding.