Social Money: Developer of SmartyPig Product Acquired for $10.6M by Q2

Q2 Holdings Inc., an Austin, Texas-based cloud-based virtual banking solutions provider, has acquired Social Money, a financial services software company based in Des Moines, Iowa that created the SmartyPig product, a cloud-based platform that allows community banks and credit unions to offer digital banking. Q2 acquired all of the outstanding interests of Social Money in exchange for $10.6 million in cash payable at closing, subject to a customary working capital adjustment.

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