Sale of a minority stake
 in Targit

May 2011

Targit: Bringing analytics-based decision making solutions to business managers

“In 2003, we decided to accelerate the development of the internationalization to a greater extent than we were able to finance. Therefore, we initiated a partnership with Nordic Venture Partners, and they provided us with capital and directorship competencies. We have been able to finance our growth initiatives for a long time now. Therefore, it is only natural that we buy back the venture company's shares. This way, we regain total control of Targit, and the venture company receives a well-deserved profit for their investment.”

Morten Sandlykke, CEO of Targit



2010 revenue

USD 18.0m






Hjørring, Denmark

The business intelligence and decision-making platform for all users and all data

Targit is a leading vendor of business intelligence solutions with sales across Europe and the US.

With an emphasis on people, it is Targit’s mission to transform entire organizations by revealing actionable insights for every user to make better and faster decisions.

Targit Decision Suite is the only business intelligence platform that offers visual data discovery tools, self-service business analytics, reporting, and stunning dashboards in a single, integrated solution.

The company employs some 65 people across Denmark, the US and Germany, with distribution offices in 10 additional countries.

Nordic Venture Partners exits after 8 years of ownership

Stella EOC advised Nordic Venture Partners in the successful exit of its 34% holding in Targit to a group of five managers, for a consideration of USD 10m.

Denmark-based venture capital firm NVP first invested in the company in 2003, and put much emphasis into developing Targit’s products.

With Nordic Venture Partners’ backing, Targit has quadrupled its revenue, and the company is self-financing since 2005 (with a 10% EBT margin in 2010).

Targit also entered the Gartner Magic Quadrant and has become an internationally renowned business with 4,000 customers and 300,000 users.

The minority sale/replacement capital transaction followed a process where Stella EOC advised the Targit board on a range of strategic options.

Stella EOC acted as sole advisor to the sellers.