Forterro acquires TARGIT to expand global business intelligence reach
Forterro has announced the acquisition of Denmark-headquartered business intelligence (BI) and analytics software company TARGIT, bringing over 1,000 small and medium-sized enterprise (SME) customers in Europe and North America into its network.
TARGIT, established in 1986 and based in Aalborg, Denmark, offers its TARGIT Decision Suite to clients across manufacturing, retail, dealership, and the public sector. The company is known for its cloud- and on-premises-based BI platform that automates reporting and supports data-driven decision making. TARGIT also operates in North America from an office in Tampa, Florida, which aligns with Forterro's existing customer base in the United States, particularly in the Northeast.
The acquisition marks Forterro's first entry into the BI market and is part of its ongoing expansion beyond its core Enterprise Resource Planning (ERP) solutions for the industrial midmarket.
Strategic direction
Dean Forbes, Chief Executive Officer of Forterro, described the acquisition as a key strategic move for the company.
"This is a significant strategic step for Forterro," said Dean Forbes. "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, enabling 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."
Forterro's acquisition brings advanced analytics and BI expertise into its portfolio, which is expected to help its more than 25,000 industrial business clients improve operational efficiency and accelerate growth. The integration of TARGIT's technology aims to enhance data intelligence within Forterro's existing suite of software solutions.
Customer and company focus
Jakob H. Kraglund, Chief Executive Officer of TARGIT, expressed his perspective on the partnership with Forterro.
"We're very excited to be joining Forterro as it's an organisation which we believe can help us to significantly accelerate growth and expand the reach of our comprehensive BI platform and verticalised solutions. 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."
Kraglund will continue in his role as Chief Executive Officer of TARGIT during the transition period as the company becomes part of Forterro. After completing this process, he is due to step down from the company.
TARGIT's software includes a highly configurable end-to-end analytics platform, recognised for vendor credibility by the market research firm Dresner and as a leader in multiple BI categories by research group BARC. Its customer base spans SMEs, focusing on data-driven, automated reporting and decision-making tools that support both day-to-day processes and long-term strategy.
Ownership and transaction details
Forterro is acquiring TARGIT from GRO Capital, a private equity firm based in Northern Europe that focuses on B2B software companies. The transaction is scheduled for completion on 08 July 2025.
Forterro was founded in 2012 and operates from more than 40 offices internationally, employing over 2,500 people and supporting industrial clients primarily in Europe's production economies.
