Forterro strengthens Business Intelligence capabilities with acquisition of Danish software firm TARGIT

Move brings 1,000 Small-Medium Enterprise customers and new expertise into the Forterro ecosystem

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, 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."

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 significantly accelerate growth and 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 08 July 2025.