Investcorp Technology Partners (ITP) announces it has acquired the business and assets of the wearable contactless payment technology company MIR limited.
Bahrain-based investment firm, Investcorp Technology Partners (ITP), has acquired MIR limited, an Isle of Man-based fintech company specialising in wearable contactless payment technology.
The e-Wallet company has been spearheading innovation within their industry since being founded in 2016 by Israel Rosenthal, creating payment devices out of watches, wristbands, keychains and even plastic bottles.
Speaking of the acquisition, ITP stated that “[it] marks the beginning of a fruitful partnership between Investcorp and [MIR Limited] 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,” the firm added.
Rosenthal, who will continue his post and remain based in the company’s home territory of the Isle of Man, also expressed delight in the business acquisition, citing ITP’s “proven track record of investment success, expertise and global network in the payments and technology sectors” as helpful to achieving MIR Limited’s “enormous growth potential.”
Investcorp Technology Partners currently manages $37.6 billion worth of assets in real estate, credit management, infrastructure and more. Operating across ten locations in three continents, the firm is also the largest alternative asset manager in the Middle East.