Green Dot Acquired by CommerceOne Financial | Financial Services M&A Deal

CommerceOne Financial has agreed to acquire Green Dot, a payments processing business in Alabama, for $11.80. Green Dot provides non-bank financial technology and related payments operations, while CommerceOne Financial acquisitions are positioned to expand payments processing capabilities in AL. The structure splits assets so CommerceOne retains Green Dot Bank and bank-related operations, and a newly formed Delaware entity affiliated with Smith Ventures acquires Green Dot’s non-bank financial technology and related assets. The merger acquisition is part of financial services M&A and strategic acquisition activity, with Green Dot’s board unanimously approving the merger agreement and separation agreement.