Founded in 2004 and headquartered in South Africa, Retro Rabbit is a leading independent digital engineering and software development business providing solutions to blue-chip enterprise clients. Retro Rabbit has long-standing relationships with many of the largest banking and insurance institutions in South Africa, providing vast expertise in the financial services sector. The company’s 200 strong multi-disciplinary team offer deep technology stack expertise to provide cutting-edge software solutions for B2B and B2C use cases to enterprise clients globally.
The transaction combines two strategically aligned and complementary businesses, enabling SmarTek21 to fortify its digital transformation and product engineering capabilities, strengthen its industry expertise, and expand its geographic footprint. The combination will accelerate Retro Rabbit’s growth into new regions as well as its current markets and provides multiple synergies across the two organisations.
“This combination will strengthen SmarTek21’s ability to build upon its existing partnerships with Fortune 100 clients through their design-first approach to product engineering,” said Ashray Prasad, Managing Member at Tortuga Growth Partners.
“This acquisition addresses the global business shift toward data-centric innovation,” said Dion Nair, CEO of Retro Rabbit. “Our team’s alignment with SmarTek21’s platform allows us to provide integrated solutions and deliver value to clients undergoing complex business transformations to automate their mission-critical business functions.”
Vivek Subramanyam, Founder and CEO of TH Global Capital, said, “We are excited to have completed this significant transaction with Retro Rabbit—our 11th digital product engineering deal and 32nd deal in the Banking & Financial Services IT space. It also represents a TH deal in our 26th country – South Africa. This transaction is a testament to TH Global Capital’s extensive expertise and proven capabilities in the digital transformation and digital engineering space. We wish Retro Rabbit every success in their strategic partnership with Tortuga Growth Partners and SmarTek21.”
Ben Wood, Associate Vice President at TH Global Capital, added, “We are thrilled to have supported Retro Rabbit at this significant stage in their growth journey. It’s been a delight working with the Retro Rabbit team who have built a truly exceptional business. SmarTek21 offers a strong cultural fit and provide several unique strategic opportunities to this new partnership. Deepest congratulations to the Retro Rabbit shareholders, we wish them great success in their next chapter.”