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UniRush LLC Has Agreed to be Acquired by Green Dot

Thursday, February 2, 2017

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William Blair acted as the exclusive financial advisor to UniRush LLC, a leading pre-paid card provider to unbanked and underbanked customers in the U.S., in connection with its sale to Green Dot Corporation from leading financial sponsors and founders. The transaction was announced on January 30, 2017 and is subject to customary closing conditions and regulatory approval.

Transaction Highlights

  • Deep sector knowledge and positioning expertise: UniRush was attracted to William Blair’s extensive knowledge and experience within the pre-paid card sector and our strong relationships with likely strategic / financial acquirers.
  • Process and execution excellence: William Blair constructed and managed a competitive, highly customized process with a targeted group of potential strategic and financial acquirers. Successfully positioning UniRush as a mission-critical asset, William Blair produced highly competitive process dynamics and ultimately facilitated an exceptional outcome for UniRush’s shareholders.
  • Highly strategic acquisition: UniRush LLC is a great strategic fit for Green Dot, further enhancing Green Dot’s product portfolio and strengthening its position as a leader in the prepaid card sector. UniRush also provides an effective, highly differentiated distribution channel for Green Dot

About the Companies

UniRush, LLC, which helped pioneer the prepaid debit card industry with the Prepaid Visa RushCard, one of the first general purpose reloadable prepaid debit cards in the marketplace, provides members with access to services that enable them to achieve their personal and financial goals. UniRush offers Americans an array of basic financial services via the RushCard.

Green Dot Corporation (NYSE:GDOT), along with its wholly owned subsidiary bank, Green Dot Bank, is a bank holding company regulated by the Board of Governors of the Federal Reserve System and the Utah Department of Financial Institutions. Green Dot is widely recognized as the inventor of the prepaid debit card industry and is the largest provider of reloadable prepaid debit cards and cash reload processing services in the United States. Green Dot is also a leading financial technology company and the largest processor of tax refund disbursements in the U.S. through its wholly owned subsidiary, TPG. Green Dot is also a leading provider of mobile banking with its GoBank checking account sold at retailers nationwide and through integrated technology partners. Green Dot's products and services are available to consumers through a distribution network of more than 100,000 U.S. locations, as well as online, in the leading app stores and through leading online tax preparation providers. Based in Pasadena, California, Green Dot has additional facilities throughout the United States and in Shanghai, China.

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