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Synchrony Financial to acquire gifting services provider Loop Commerce

Consumer financial services company Synchrony Financial agreed to acquire Loop Commerce Inc. for undisclosed terms.

With the deal, Synchrony will incorporate Loop Commerce's digital and in-store gifting services with its business. Menlo Park, Calif.-based Loop Commerce provides online and in-store gift-buying and receiving with its GiftNow platform and service.

Loop Commerce will operate as a wholly owned subsidiary of Synchrony.

The deal is not expected to have a material impact on Synchrony’s financial results.

Morgan Stanley & Co. LLC acted as the financial adviser to Synchrony, and Sidley Austin LLC acted as its legal adviser. Steelhead Advisors LLC acted as financial adviser to Loop Commerce.