Identity theft protection company LifeLock buys mobile wallet startup Lemon Wallet

Identity theft protection company LifeLock buys mobile wallet startup Lemon Wallet

NYSE-listed identity theft protection company LifeLock has upped its presence on mobile after it acquired Lemon Wallet, the smart mobile wallet service which has three million registered users.

The price of the deal is unclear since there has been no official announcement yet (see update below), but we noticed that Lemon Wallet for iOS has been renamed LifeLock Wallet, and a note in the changelog confirms the deal: “We’re excited to announce that Lemon Wallet has been acquired by LifeLock.”

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Already iOS users are seeing the first benefits of the deal, which gives them access to LifeLock’s ‘Identity Theft Protection’ from inside the LifeLock Wallet app. The Lemon Wallet Android app has not been updated at the time of writing.

LifeLock, which listed on the NYSE last year, has raised $178 million in funding to date — including a $100 million venture capital round in March 2012. Lemon Wallet has raised $8 million from Maveron, Lightspeed Venture Partners and other investors.

We’ve reached out to both companies and will update this article with more details when we have them.

UPDATE: TechCrunch reports that the deal was worth $42.6 million.

Related: Lemon wallet app adds a payment network to connect merchants with its 3 million users

Headline image via daffodilred / Shutterstock

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