GRO Capital Acquires Business Intelligence Software Leader TARGIT to Accelerate International Growth

Industry Cloud & CX
Service Sellside M&A
GRO Capital

Bowen Advisors Serves as M&A Advisor to TARGIT

BOSTON, March 15, 2017 – Bowen Advisors is pleased to announce that TARGIT A/S, a developer of agile business intelligence (BI) software solutions for small and mid-tier enterprises (SMEs), has been acquired by GRO Capital, a technology-focused middle market private equity firm based in Copenhagen, Denmark. With a deal team led by Bob Cronin and Chris Dubyak, Bowen Advisors acted as the exclusive sellside M&A advisor to TARGIT.

TARGIT’s powerful platform represents one of the few truly “bimodal” BI/analytics offerings that addresses both the self-serve data discovery needs of business users and data governance requirements of corporate IT professionals via a single, seamlessly integrated architecture. The acquisition will enable TARGIT to continue to advance its platform and accelerate growth through an increased focus on global sales and marketing activities. “We have followed TARGIT for years, and we are very excited to partner up with TARGIT and to support the competent management in fulfilling their ambition of creating a strong market leader in business intelligence by providing our capital and knowledge,” said Lars Dybkjær, Managing Partner at GRO Capital.

Increasing competition and rapidly changing customer demands are requiring companies of all sizes to utilize data and analytics to optimize business decisions. This dynamic, however, creates problems for SMEs that often have similar analytical needs of larger enterprises, but limited financial and IT resources. “TARGIT has been able to address these challenges by enabling mid-sized companies to maintain centralized control of critical strategic data governance capabilities, while providing line of business users with powerful data mash-up and data visualization features that deliver insights on a near real-time basis,” said Bob Cronin, Managing Director and Head of Bowen Advisors’ Enterprise Information Management (EIM) practice. “We look forward to partnering with other innovative BI/analytics software companies and their investors, as the sector moves ahead to provide end users with advanced smart data discovery and AI-based, automated insight functionality.”


Click here for GRO Capital’s press release