Fortes has acquired German PSA software provider QuoTec, strengthening its position in the European market and enhancing its service offerings to clients.

Target Information

Fortes, a provider of Professional Services Automation (PSA) and Project Portfolio Management (PPM) software, has announced the acquisition of QuoTec, a German-based software provider. This acquisition marks Fortes' third since it became a Main Portfolio Company in 2021. QuoTec, founded in 2004 and located in Ratingen, Germany, specializes in PSA software primarily serving the agency vertical, helping optimize professional services processes for over 450 clients, including notable names such as Axel Springer and ERGO.

Industry Overview in Germany

The PSA software market in Germany is witnessing significant growth as organizations increasingly seek ways to enhance efficiency in project management and resource allocation. With a burgeoning digital transformation agenda, German companies across various sectors, including IT, consultancy, and accountancy, are turning to innovative software solutions to navigate complex project environments. These organizations face challenges such as uncontrolled project scopes and resource limitations, creating a ripe opportunity for PSA solutions.

Additionally, government entities in Germany are adopting modern software tools to streamline their operations, reflecting a shift towards data-driven management practices. This