Ingka Investments completed the acquisition of Locus.

Ingka Investments, the investment arm of Ingka Group, the IKEA retailer, completed the acquisition of Locus, a technology company engaged in providing AI-powered logistics and distribution solutions. Financial terms were not disclosed. "Our vision is to create a better everyday life for the many, and that includes delivering products when and how customers want them. This acquisition strengthens the digital capabilities required to meet rising customer expectations, while ensuring the quality and reliability IKEA is known for," Parag Parekh, Ingka Group CDO.