LifeLock Acquires Lemon App For $42 Million to Develop Digital Wallet

LifeLock, the identity theft protection service, has acquired digital wallet startup Lemon for $42 million, the two companies announced early Thursday.

Lemon received some positive press when it launched a web and mobile app in 2011 that let users scan and collect receipts and analyze their expenses. The following year, however, the startup tried to move beyond the focus on receipts and create a full mobile wallet experience

Lemon had been in talks earlier this year with multiple firms including LifeLock about potential partnerships, but ultimately decided to engage in acquisition talks with LifeLock to scale its digital wallet efforts. Read more...