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September 7, 2021

Investcorp buys digital payments platform operator MIR

By Shalini mani

Investcorp Technology Partners (ITP) has completed the acquisition of all of the business and assets of MIR for an undisclosed amount.

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Founded in 2016, the acquired entity operates payments platforms and provides e-wallet solutions to users in 180 countries, including the UK, Germany, Italy, Canada, and the Netherlands.

Its offerings include a wearable contactless payment technology designed to integrate with its e-wallet and ‘MasterCard’-branded prepaid debit cards.

Following the completion of the deal, MIR founder Israel Rosenthal will continue as CEO of the firm.

The firm will remain headquartered in the Isle of Man and maintain its offices in seven countries.

Rosenthal said: “We are delighted by ITP’s acquisition of the Business. ITP bring a proven track record of investment success, expertise and global network in the payments and technology sectors which will help to realise the enormous growth potential for the Business and I look forward to working with the ITP team.”

ITP managing director Georg Knoflach said: “The acquisition marks the beginning of a fruitful partnership between Investcorp and MIR as we look to position it as a leader in the sector. We see many exciting opportunities ahead – both organic and inorganic – and are looking forward to working with Mr. Rosenthal to take the Business to the next stage in its development.”

ITP is a European technology sector-focused unit of Bahrain-based alternative asset manager Investcorp.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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