The Hungarian distributor Xapt, which currently possesses 90 percent of the market for Microsoft Dynamics solutions in Hungary, has just signed a distributor agreement with TARGIT. At the same time Xapt has recently won several large orders in Canada and will therefore create a new reseller link in Toronto. Xapt will bring TARGIT BI Suite and that gives TARGIT yet another sales channel on the important North American market.

Hjørring, October 11, 2006 – TARGIT has just signed a distributor agreement with Xapt Business Solutions, the absolutely largest distributor of Microsoft Dynamics AX-solutions (formerly known as Axapta) in Hungary. The contact to Xapt was originally established through Microsoft in Hungary which emphasizes TARGIT’s already close cooperation with Microsoft Business Solutions. The agreement with Xapt is a part of TARGIT’s global growth plans which earlier this year led to TARGIT entering the Polish market and the opening of an independent office in Sweden.

The agreement with Xapt gives TARGIT immediate access to a long list of Hungarian resellers and the expectations are therefore that sales can begin in immediate continuation of the agreement. Xapt has, already before signing the agreement, sold two TARGIT solutions in the Hungarian market and their response is that there is a massive need for business intelligence in the market. Xapt has therefore allocated seven employees to TARGIT BI Suite, who will supplement the explosive sales of ERP solutions with business intelligence. The Hungarian market is strikingly different from the classic western market being that it is primarily the management, and not so much the employees, who uses business intelligence in their daily routines.

While signing the distributor agreement with TARGIT, Xapt won several large orders in Canada, and Xapt therefore decided to establish a new subsidiary in Toronto. Also from this location, TARGIT BI Suite will be supplementing their sales of Microsoft Dynamics solutions. In Toronto Xapt will be affiliated with TARGIT US that has its headquarters’ in Tampa, Florida.

”The Hungarian market is extremely interesting as the large companies have realized that in the long term they cannot survive on cheap labour alone. With that, more and more companies are working to make their lines of business more effective and are implementing both ERP and business intelligence solutions. Xapt is the best distributor of all in the Hungarian market, and therefore we expect a lot from the cooperation. That Xapt on top of this can provide us with a stronger presence in the important North American market is only an underlining of their strength,” says Flemming Madsen, Senior VP of Sales in TARGIT.

TARGIT BI Suite is under the name Business Analytics an integrated part and Microsoft Dynamics NAV 4.0 and can boost about being one of the world’s best solutions to support Microsoft SQL Server 2005.

For more information about TARGIT’s plans for Hungary and Canada please contact: info@targit.com

About TARGIT

TARGIT was founded in 1986 with the current CEO, Morten Sandlykke, as one of the founding partners. Today, TARGIT is the largest developer of business intelligence in Denmark and the core product, TARGIT Business Intelligence Suite, is distributed by more than 250 business partners around the world. The first business intelligence-product from TARGIT was based on the idea of user-friendliness, flexibility, and simple implementation; core values which have since characterized TARGIT’s solutions. TARGIT is Microsoft Gold Certified Partner within the competencies ISV/Software Solutions and Data Management Solutions.