European industrial software provider Forterro has entered into a binding agreement to acquire TARGIT, a Denmark-headquartered business intelligence (BI) and analytics software company that serves more than 1,000 SME customers across Europe and North America.
Forterro provides software solutions tailored to the industrial midmarket, helping businesses strengthen operations and accelerate growth. This deal – Forterro’s first BI acquisition – adds analytics and data intelligence to its offering. Enhancing the value it can deliver to customers alongside its core ERP solutions.
“This is a significant strategic step for Forterro,” said Dean Forbes, CEO of Forterro. “TARGIT is a well-established, highly scalable, BI solution with deep domain knowledge, trusted by SMEs around the world to transform data into actionable insight. With TARGIT, we can help customers unlock even greater value from their ERP data. This will enable smarter decision making and driving better business outcomes.
“This integration not only strengthens our BI capabilities, but also broadens our strategic focus beyond core ERP, creating new opportunities to deliver value and growth.”
An end-to-end BI platform
Founded in 1986 and headquartered in Aalborg, Denmark, TARGIT is known for its cloud and on-premises-based TARGIT Decision Suite. An end-to-end BI platform that automates reporting and enables data-driven decision making. The solution is highly configurable and has a strong footprint in the manufacturing, retail, dealership and public sectors.
“We’re very excited to be joining Forterro as it’s an organisation which we believe can help us to accelerate growth. Furthermore, expand the reach of our comprehensive BI platform and verticalised solutions,” said Jakob H. Kraglund, CEO, TARGIT. “We also share a strong commitment to customer value and success, and core values such as agility, innovation and integrity.
“With Forterro’s support, we can boost development and advance far beyond what was previously possible. While staying true to the strengths and values that have brought us success so far.” Jakob H. Kraglund will remain in his role as CEO of TARGIT during the transition to Forterro, after which he will be leaving the company.
Forterro is acquiring TARGIT from GRO Capital, a Northern European private equity firm with an exclusive focus on B2B software companies. The transaction is expected to complete on 28 June 2025.
Enterprise Times: What this means for business
The company completed its acquisition of Orgadata AG, which was announced in November 2024. In January 2025, the company announced its acquisition of (Business Micros) BM Group. A specialist manufacturing software vendor that operates in the fenestration sector. Now the company is planning to acquire TARGIT, a purchase that brings 1,000 Small-Medium Enterprise customers and new expertise into the Forterro ecosystem.
Forterro is now a leader in industrial software provider with 18 acquisitions under its belt. The company has 3,000 employees serving 25,500 customers across 14 countries using its industrial software across Europe. In addition, the company also has 40 offices across Europe. No financials were disclosed of the TARGIT acquisition, nor any fundamental changes to the operational structure of both companies.
However, the acquisition strengthens Business Intelligence capabilities with acquisition of TARGIT’s product offering. The assumption will be that the company embeds the technology into it current and future suite of solutions. The question for customers will be, whether these new BI capabilities will be a solution enhancement or an additional service offering for a fee.
