American Express To Buy Revolution Money For $300M

Law360, New York (November 18, 2009, 3:19 PM EST) -- American Express Co. has inked a $300 million deal to acquire Internet payment company Revolution Money from Revolution LLC, the companies said Wednesday.

Revolution Money, based in St. Petersburg, Fla., was launched by AOL co-founder Steve Case's Revolution LLC in 2007. The company provides secure payments through an Internet-based platform.

Along with online person-to-person payment accounts, the company offers a prepaid card for offline payments or to withdraw cash from ATMs. The cards do not feature names or account numbers, and transactions are authorized by using...
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