Forterro Expands Europe with TARGIT Acquisition
Deal News | Jun 26, 2025 | Battery Ventures
Forterro, a European provider of industrial software, has entered a binding agreement to acquire TARGIT, a business intelligence and analytics company from Denmark. This acquisition marks Forterro's entry into the BI sphere, complementing its ERP offerings. TARGIT, known for its customizable BI platform, has a significant presence across multiple sectors. The acquisition will enable Forterro to enhance its data intelligence capabilities, providing SMEs with improved data-driven insights. Dean Forbes, Forterro's CEO, emphasizes the strategic value of this integration. TARGIT, being acquired from GRO Capital, aligns with Forterro's vision of expanding its services beyond core ERP offerings. Jakob H. Kraglund, CEO of TARGIT, will remain in his position during the transition period, ensuring a seamless integration before he exits the company. The transaction is anticipated to close on July 8, 2025.
Sectors
- Software
- Private Equity
Geography
- Denmark – TARGIT is headquartered in Aalborg, Denmark.
- Europe – Forterro operates across Europe, targeting SME customers with its software solutions.
- North America – TARGIT serves a number of SME customers in North America.
Industry
- Software – The article focuses on Forterro and TARGIT, which operate in the software industry, providing ERP and BI solutions respectively.
- Private Equity – GRO Capital, a private equity firm, is involved as the seller of TARGIT in the transaction.
Financials
- Not disclosed – The deal price for the acquisition has not been disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Forterro | Acquirer | Company | A European industrial software provider that offers ERP solutions to midmarket businesses. |
| TARGIT | Target | Company | A Denmark-based business intelligence and analytics software company. |
| GRO Capital | Vendor | Company | A Northern European private equity firm selling TARGIT to Forterro. |
| Battery Ventures | Private Equity Firm | Company | PE firm associated with Forterro's growth and strategic expansions. |
| Dean Forbes | CEO of Forterro | People | Chief Executive Officer of Forterro, spearheading the acquisition. |
| Jakob H. Kraglund | CEO of TARGIT | People | Chief Executive Officer of TARGIT, will oversee the transition before exiting. |
| Claire-Marie Nasr | VP M&A, Forterro | People | Vice President of M&A at Forterro, involved in the acquisition process. |