The acquisition of Medellin-based tech startup XQuire reveals Colombia’s slowly growing popularity as a hub for technological development on an international scale.
The purchase of XQuire by international private equity firm Blue Loop Capital marks one of the most significant acquisitions ever in Colombia’s technology sector, which sees less than a handful of business deals sealed every year, and says a lot about the country’s increased recognition as a pool of talent for developers and the birthplace of products with an international appeal.
The historical reluctance of international companies to invest in Colombia’s technology industry, often held back by the country’s — now improving — reputation of insecurity and governmental instability, has long been the main bottleneck for this ever-expanding sector.
Nevertheless, this new development could reveal concrete changes in the nation’s technology industry, as trends show that companies are moving away from typically used countries such as Mexico as the base of their development teams, and into Colombia.
XQuire’s new owner Yuxi Pacific and its former holder Lex Paradigm have been successful partners since the product was first released, a promising prospect for Yuxi Pacific to establish itself as the best provider for digital content management in the entire publishing industry.
Blue Loop Capital is a private equity firm which focuses on acquiring businesses and technology that offer significant long-term growth opportunity. They invest in a range of businesses, ideas and technologies from a variety of industries.
The major release of XQuire, whose business headquarters are in Miami, US, has been scheduled for the summer of 2014, on a preliminary basis.
Sources
- Official Blue Loop Capital Press Release
- Yuxi Pacific Official Website
