London, UK, 26 June 2025 - 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.
Founded in 2012, Forterro has grown to become a category leader in industrial software – with strongholds in Europe’s top production economies, as well as regional service hubs and development centres around the world. From more than 40 office locations, its 2,500+ employees provide and support software for more than 25,000 industrial businesses. Its products are deeply rooted in the demands of their local geography, and each is designed to strengthen and accelerate customers’ ability to operate efficiently and compete effectively.
© Forterro 2025 All rights reserved
TARGIT brings decades of analytics expertise to key verticals to help organisations make data-driven decisions. It drives lasting business value with solutions that support unique goals and the processes that power day-to-day operations. TARGIT easily integrates with existing systems and continually adapts to user needs, even as the organization grows. Recognized as a Global Leader in Vendor Credibility by Dresner four years in a row and Leader in Multiple BI Categories/KPIs by BARC seven years in a row, it prides itself on building lasting partnerships that support customers through continuous innovation, insightful recommendations, and a people-first business model.
Forterro
Paul Allen, Rise PR,
Email: paul@risepr.co.uk
Phone: +44 7515 199487
Rachel Woodford, PR & Communications
Email: rachel.woodford@forterro.com
Phone: +44 7887 791475
TARGIT
Lotte A. Royberg, Marketing
Email: lar@targit.com
Phone: + 45 30 10 61 30