Forterro strengthens BI capabilities with acquisition of Danish TARGIT

European industrial software provider Forterro has entered into a binding agreement to acquire TARGIT, a Denmark-headquartered business intelligence (BI) and analytics software company.

Forterro provides software solutions designed for the industrial midmarket, supporting businesses in strengthening operations and accelerating growth. This deal, Forterro’s first BI acquisition, will expand its offering with advanced analytics and data intelligence to complement its core ERP solutions and enhance customer value.

Dean Forbes, CEO of Forterro, said that this is a significant strategic step for Forterro, adding:

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.

TARGIT, founded in 1986 and headquartered in Aalborg, Denmark, is known for its TARGIT Decision Suite, an end-to-end BI platform that automates reporting and enables data-driven decision making. The platform is highly configurable and has a strong footprint in the manufacturing, retail, dealership, and public sectors.

Jakob H. Kraglund, CEO of TARGIT, shared:

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.

Jakob H. Kraglund will remain in his role as CEO of TARGIT, 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.

Lead image: Left to right - David Coste, President, Forterro, with Jakob H. Kraglund, CEO, TARGIT and Claire-Marie Nasr, VP M&A, Forterro | Photo: Uncredited