Deal Description: Coda, the Singapore-based digital content monetization provider, has agreed to acquire Recharge, Europe’s leading prepaid payments platform, headquartered in Amsterdam. The acquisition is backed by Apis Partners, Insight Partners, Smash Capital, and other existing investors in Coda.

The cross-border transaction enhances Coda’s reach across Europe and direct-to-consumer capabilities, with Recharge adding retail depth through its prepaid digital storefronts like Recharge.com and Startselect.com. For Recharge, the deal adds B2B expertise and access to deeper partnerships with top-tier digital content publishers, as well as new routes into high growth Asian markets.

Recharge’s consumer platforms offer over 16,000 products across gaming, mobile, gift cards, and lifestyle.  It is trusted by over 1,000 global brands, including Apple, Google and PlayStation.

Coda brings publisher partnerships with leading mobile gaming and digital content publishers, including Electronic Arts, Activision, Riot Games, HoYoverse and Moonton, and powers webstores for flagship franchises such as Call of Duty®: Mobile and EA SPORTS FC™ Mobile.

In 2024, the combined businesses processed over US$1.75 billion and served more than 200 million users in 180+ markets.

Baker Botts represented Recharge on all legal aspects of the complex cross-border transaction, working closely with its investors, supervisory board and management team.

Baker Botts Lawyers Involved:

Corporate: David Marshall (Lead Partner, London), Christina Mouktari (Associate, London), Meher Kairon Prasad (Associate, London)

Intellectual Property: Neil Coulson (Partner, London)

Antitrust: Matthew Levitt (Partner, Brussels)

Tax: Graham Brough (Special Counsel, London)

 

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