Payward, Inc., a unified financial infrastructure platform advancing an open, global financial system, has announced it has entered into a definitive agreement to acquire Reap Technologies Holdings Limited (Reap), a leading stablecoin-native, card issuing and payments infrastructure company enabling global money movement, for up to US$600 million payable in a mix of cash and Payward stock, in a transaction that values Payward’s equity at US$20 billion. The acquisition expands Payward Services, the company’s B2B infrastructure platform, unlocking globally regulated infrastructure for card issuance and stablecoin payments.
Latham & Watkins LLP advised Reap in the transaction with a corporate team led by New York partner Daniel Mun, Bay Area partner Saad Khanani, and Los Angeles counsel Alexandra McArthur, with associates Katelyn Hughes, Donara Aghajani, and with assistance from Elise van den Hoek. Advice was also provided on financial regulatory matters by Washington, D.C. partner Parag Patel and Hong Kong partner Simon Hawkins, with associates Sam Maxson, Gen Huong Tan, and Stephanie Li; on finance matters by New York/Boston partner Jerome McCluskey and Singapore partner Chuan Wei Kong, with associates Donna Hope, Lea Avsenik, Rebecca Han, Jonathan Feng; on antitrust matters by Washington, D.C. partner Peter Todaro and Brussels partner Anthemis Economou, and New York/Washington, D.C. counsel Jamie Sadler, with associates Carla Palma, Juan Pablo Donado Díez, and with assistance from Noam Haykeen; on tax matters by New York partner David Raab, with associates Lukas Kutilek and Joyce Shin; on intellectual property matters by Hong Kong partner Rhys McWhirter, with associates Aster Lin and Zoe Wang; on data privacy and cybersecurity matters by Houston partner Robert Brown, with associate Stuart Cobb; on executive compensation and employee benefits matters by Washington, D.C. partner Nikhil Kumar and Singapore partner Farhana Sharmeen, with associate Sam Sturgis; and on sanctions, FCPA, and trade controls matters by Washington, D.C. partner Eric Volkman, with associates Patricia Amselem Bensadon, Eric Green, Dillon Curtis, and Marit Bjornlund.
