IKEA Group (INGKA Holding B.V.)
Acquisitions
4
Major Deals Covered
This page covers 4 major deals from 2017 to 2025, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| TaskRabbit | 2017 | Undisclosed | IKEA acquired TaskRabbit, the on-demand home services platform, to offer furniture assembly services alongside its products. As IKEA expanded into urban markets with smaller stores and delivery services, the need to help customers assemble flat-pack furniture became a strategic service gap that TaskRabbit filled. |
| Geomagical Labs | 2020 | Undisclosed | IKEA acquired Geomagical Labs, an AI-powered interior design startup, to build augmented reality and room visualization capabilities that allow customers to see how IKEA furniture would look in their homes before purchasing. The technology uses smartphone cameras to create accurate 3D models of rooms. |
| Livspace (minority investment) | 2021 | Undisclosed | IKEA invested in Livspace, India interior design and home renovation platform, to build a services business in the Indian market where IKEA was expanding its physical store presence. Livspace offered a comprehensive home renovation service that could include IKEA furniture and products. |
| Ikano Bank (full ownership) | 2025 | Undisclosed | Ingka Group completed full ownership of Ikano Bank to provide integrated financial services supporting IKEA affordability. |
2025
Ingka Group completed full ownership of Ikano Bank to provide integrated financial services supporting IKEA affordability.
Gives Ingka direct control over consumer financing and payment offers for IKEA customers.
Completed in FY2025 per Ingka Group results.
2021
IKEA invested in Livspace, India interior design and home renovation platform, to build a services business in the Indian market where IKEA was expanding its physical store presence. Livspace offered a comprehensive home renovation service that could include IKEA furniture and products.
The Livspace partnership and investment gave IKEA access to a platform that served the Indian middle class seeking complete home interior solutions rather than individual furniture pieces. India represented one of IKEA most important growth markets as rising incomes drove demand for organized home furnishing.
This was a minority investment by Ingka Investments, not a takeover; Livspace remains independent.
2020
IKEA acquired Geomagical Labs, an AI-powered interior design startup, to build augmented reality and room visualization capabilities that allow customers to see how IKEA furniture would look in their homes before purchasing. The technology uses smartphone cameras to create accurate 3D models of rooms.
Geomagical Labs technology enhanced IKEA augmented reality app capabilities, allowing customers to visualize complete room arrangements rather than individual items. This addressed a major customer pain point of uncertainty about how furniture will fit and look in their specific space.
The room visualization technology has been integrated into the IKEA app globally. It supports higher-value furniture purchases by reducing the risk and uncertainty of buying large items online. The acquisition reflects IKEA broader investment in digital tools that bridge the gap between physical store browsing and digital shopping.
2017
IKEA acquired TaskRabbit, the on-demand home services platform, to offer furniture assembly services alongside its products. As IKEA expanded into urban markets with smaller stores and delivery services, the need to help customers assemble flat-pack furniture became a strategic service gap that TaskRabbit filled.
TaskRabbit assembly services are now integrated into the IKEA shopping experience globally, with customers able to book assemblers directly through the IKEA website at point of purchase. This removed one of the primary friction points in buying IKEA furniture, particularly for customers without tools or time to self-assemble.
TaskRabbit has expanded significantly under IKEA ownership, operating in over 60 cities globally. The service has become an important part of the IKEA customer proposition, particularly for urban apartment dwellers and older customers who value the convenience. It has also opened a new revenue stream for IKEA beyond product sales.
IKEA is growing through more and smaller customer meeting points (city stores, plan-and-order points, pick-up locations), stronger online sales (28% of FY2025 retail sales), and services. Ingka spent ~$3.84 billion (EUR 3.4 billion) in FY2025 capex, fully acquired Ikano Bank to offer integrated financing, and expanded in markets such as India, where it operates large stores and city formats. Circular offers like Buyback and the IKEA Pre-owned marketplace, plus Ingka Investments' renewable energy and forestry portfolios, support long-term cost and sustainability goals.
IKEA is a vertically integrated retailer that controls much of its supply chain, from forests in Eastern Europe to its blue-and-yellow stores. The store layout leads shoppers past thousands of low-priced items such as candles and napkins before they reach the warehouse to collect flat-pack furniture. Its restaurant, known for inexpensive Swedish meatballs, is priced to keep shoppers in the store longer.
In September 2017, Ingka Group acquired TaskRabbit to remove the friction of DIY furniture assembly, allowing IKEA in-store and online shoppers to smoothly book certified local taskers to assemble wardrobes, beds, and kitchen units at fixed hourly rates.
In April 2020, Ingka Group acquired Silicon Valley 3D imaging and AI startup Geomagical Labs. The acquisition enabled IKEA to build IKEA Kreativ, allowing smartphone users to capture spatial 3D room scans and virtually stage furniture.
In 2023, Ingka Group acquired supply chain execution software company Made4net to deploy next-generation warehouse management systems (WMS) across hundreds of IKEA stores and automated customer fulfillment centers.
Ingka Investments has acquired over 610,000 acres of sustainably managed working forestland across the United States (Georgia, Texas, Oklahoma), Estonia, Latvia, Lithuania, and Romania to guarantee sustainable, FSC-certified timber supplies.
In 2021, Ingka Group acquired a 49% stake in Ikano Bank (with options to acquire 100%), accelerating the integration of digital financial services, consumer installment loans, and smooth payment solutions across global IKEA stores.
Ingka Centres acquired marquee urban shopping properties, such as the 6x6 mall on Market Street in San Francisco (redeveloped into Saluhall / IKEA), the Churchill Place building in London Canary Wharf, and prime real estate on Oxford Street, to house next-generation city-center stores.
Through Ingka Investments, IKEA has acquired equity stakes in circular economy innovators, including plastic recycling company Morssinkhof Rimmex, mattress recycling pioneer RetourMatras, and sustainable textile recycling technology firms.
IKEA avoids acquiring other furniture retail brands, focusing M&A capital strictly on digital capabilities (AI spatial modeling, WMS logistics), renewable energy infrastructure, circular recycling technologies, and prime urban real estate.
In 2017, IKEA executed a massive, brilliant acquisition by buying TaskRabbit, the gig-economy platform. This was highly strategic: for decades, the biggest barrier to buying IKEA furniture was the sheer misery of assembling it. By owning TaskRabbit, IKEA seamlessly integrated affordable, on-demand gig workers to assemble the furniture directly in the customer's home.
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