American Express Company today announced that it has completed the acquisition of Revolution Money Inc., a next-generation payments platform launched by Revolution LLC in 2007. American Express paid approximately $300 million cash for the acquisition.
Revolution Money Inc. is now a subsidiary of American Express Company. Jason Hogg, founder and chief executive officer of Revolution Money Inc., will continue to lead the Revolution Money business.
About Revolution Money
Revolution Money, a secure, state-of-the-art technology platform, was created to deliver significant value to both consumers and merchants through two products, RevolutionCard and RevolutionMoneyExchange(TM). The RevolutionCard provides consumers with enhanced PIN-based security, identity protection and numerous merchant discounts and incentives. MoneyExchange is an online payment service that offers consumers an easy, secure and free way to instantly send and receive money online to and from their friends, family and associates. www.revolutionmoney.com.
About American Express
American Express Company is a leading global payments and travel company founded in 1850. For more information, visit www.americanexpress.com.