SA Fintech Group Capital Appreciation Limited Announces The Acquisition Of Responsive Technology Group
SA Fintech Group Capital Appreciation Limited Announces The Acquisition Of Responsive Technology Group.
South African fintech group Capital Appreciation Limited has announced that it has acquired Responsive Technology Group for R48,68 million. The acquisition includes three South African companies namely, Responsive Tech Proprietary Limited, Responsive Digital Proprietary Limited and Rethink Digital Solutions Proprietary Limited.
Capital Appreciation Joint CEO, Bradley Sacks said in a statement, “Responsive fits well with Capital Appreciation’s investment philosophy of investing in established, asset-light growth companies that deliver innovative and disruptive FinTech solutions to mainly institutional clients. We also look forward to exploring the potential for synergistic opportunities with existing operating units.”
Responsive is a digital solutions group that designs and develops digital applications with clients across South Africa, the USA, Europe and the United Kingdom. The group has a proven, 10-year track record of delivering complex digital transformation projects, web and mobile apps, as well as technology products for leading South African and international blue-chip clients. These companies have included Brambles Limited (CHEP), Capitec, Coronation, Experian, MoneyGram, Nedbank and Old Mutual.
The Responsive co-founder and director Andrew McElroy stated that, “We are excited to join a group that has such a strong culture of innovation, an extensive client base and a healthy balance sheet from which to expand. We look forward to adding our unique strength to the group to create the best experiences for existing and new clients. We also see synergies in creating web and mobile products that delight users by following a design thinking approach and expertly implementing the best technology solutions.”
Capital Appreciation Limited aims to grow its digital division of the company and it realised that Responsive Technology Group has the expertise to make sure that the company does come up with innovative ideas that will make its digital division grow.
