Translation of elEconomista newspaper aticle.
Arcadio Investments, the search fund created with the purpose of facilitating generational transition for a spanish SME business owner, has acquired the software company Libnova.
Libnova is the global leader in digital preservation with a presence in 20 countries across five continents. The investment firm, supported by Arada Capital Partners, has completed its acquisition after evaluating over 1,000 Spanish companies across multiple sectors.
The founder and CEO of Arcadio Investments, Jacobo Vera, has assumed the role of the new CEO of the Spanish company, specializing in supporting businesses and organizations in safeguarding their digital content. The co-founder of Libnova, Guillermo Martínez, remains as a shareholder alongside Arada Capital Partners and other American and European investors. Furthermore, he will continue to be involved in the new phase of the company.
Following the investment, Jacobo Vera has initiated an ambitious growth plan. “The expansion of digital preservation is unstoppable, and our goal is to ensure that our product reaches every corner of the world,” explains Vera to elEconomista.es. “We are already market leaders, but we aim for more. We will strengthen our teams to continue delivering the service our customers expect, further enhance our products, and expand our international presence.”
Founded in 2009, Libnova’s mission is to proactively and systematically safeguard digital content, ensuring its accessibility, usability, and authenticity over time. The company, with over 70 clients, generates 65% of its revenue internationally, with the United States leading in revenue contribution at over 40% of the total.
Among its clientele, Libnova boasts prominent public and private institutions globally, including the British Library, Stanford University, Princeton University, Oxford University, Cambridge University, and organizations like Bayer, CERN, and the U.S. Department of Energy. In 2021, Libnova was selected for the Archiver project, funded by the European Union and led by CERN, to develop a solution for preserving large-scale research data sets. As a result, this year, the company has been nominated as a candidate for the European Technology Award in the category of R&D, with the winners to be announced in late 2023.
Javier Puig, investor and advisor of Arada Capital Partners, explains, “We have been studying the digital preservation industry for some time, and the market fundamentals are very positive. With this operation, Arada Capital Partners expands and diversifies its portfolio. The private equity managed by Tressis operates in five different geographical regions. Among its ongoing operations, one that stands out due to its advanced stage is the acquisition of an internationally oriented industrial company based in Portugal.
Arada Capital Partners has a current portfolio of 17 search funds operating in five different geographic regions (Spain, France, Portugal, Italy, and the United Kingdom). and two portfolio companies: IESMAT, a Spanish leader in applied technological solutions, and Libnova, the company mentioned in this article.