Forterro expands industrial software with TARGIT acquisition
Forterro has entered a binding agreement to acquire Danish business intelligence company TARGIT, bringing more than 1,000 SME customers and new analytics expertise into its portfolio.
The move marks Forterro's first business intelligence acquisition and is expected to deepen its focus on the industrial and manufacturing midmarket by integrating analytics and data intelligence with its enterprise resource planning (ERP) solutions.
Expanding product offering
Dean Forbes, Chief Executive Officer of Forterro, said the acquisition represents a key development in the company's business strategy. Speaking on the deal, Forbes commented:
"This is a significant strategic step for 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, 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, headquartered in London, provides software for over 25,000 midmarket manufacturing businesses across the UK and Europe. This acquisition follows the company's previous deals in 2025 and aims to strengthen its capabilities with a specialised focus on data-driven decision support for customers in the industrial sector.
Details of the acquisition
TARGIT, founded in 1986 and based in Aalborg, Denmark, is recognised for its TARGIT Decision Suite, an end-to-end BI platform available both on cloud and on-premises. The platform is designed to automate reporting and promote data-driven decision making, and has established a strong foothold in sectors such as manufacturing, retail, dealership, and various public services.
Jakob H. Kraglund, Chief Executive Officer of TARGIT, welcomed the acquisition, stating:
"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 remain as CEO of TARGIT for the duration of the transition to Forterro, after which he is scheduled to leave the company.
The transaction involves Forterro acquiring TARGIT from GRO Capital, a private equity firm focused on B2B software organisations in Northern Europe. Completion of the deal is expected on 08 July 2025.
Integration and customer base
The acquisition brings more than 1,000 SME customers of TARGIT's analytics platform into the Forterro ecosystem. This is expected to offer additional capability for manufacturing and industrial clients seeking to extract actionable insight from operational data held within their ERP systems.
Both companies emphasised shared values such as a focus on customer outcomes and a commitment to integrity and flexible business solutions. According to Forterro, the integration of TARGIT's platform will enable it to offer a wider set of services, supporting midmarket customers in automating processes and making data-led decisions.
TARGIT's platform has received industry recognition, including awards for vendor credibility and leadership in multiple business intelligence categories by analyst firms such as Dresner and BARC. Its solutions are developed to be configurable according to user needs and integrate with existing business systems.
The acquisition follows Forterro's growth strategy to broaden its market reach and product portfolio in industrial software solutions. It now positions the combined entity to offer both ERP and BI functionality tailored to midmarket manufacturers, with support provided through more than 40 office locations and a workforce exceeding 2,500 employees.
Completion of the transaction remains subject to customary closing conditions. The companies intend for existing customers to see continued support with the potential for enhanced product development following the acquisition.
