Forterro, a European provider of ERP software solutions to nearly 8,000 midmarket manufacturing and production companies, has acquired myfactory, a leading provider of cloud-based ERP software to more than 2,000 wholesalers and manufacturers in the DACH region.
The acquisition expands Forterro’s total addressable market in DACH, and nearly doubles the number of customers served by the group in the region.
Dean Forbes, CEO of Forterro, said: “We have gained an extremely well-run business that has been steadily growing for the past 20 years and has already taken the steps to transition both its product and its customers to the cloud. Our primary goal will be to fuel the company’s continued growth and momentum.”
David Lauchenauer, CEO of myfactory, added: “We’ve developed one of the most complete, fully integrated cloud ERP solutions available in the European market today. Having achieved this position of strength, we saw it was the right time to find a strategic buyer that would help us go even further with what we’ve built. In Forterro, we saw a partner that not only has the infrastructure and capital we need for growth, but much more importantly, a strategy that values our brand, our people, our products and the investments that have been made by our existing customers.”
myfactory will operate as a standalone business within Forterro, with Lauchenauer overseeing the business in the role of general manager with the support of his existing management team.