Inter IKEA Group acquires TEXO Application AB
Press Release 1 September 2016
As of 31 August 2016, Inter IKEA Group is the new owner of the innovative and entrepreneurial company Texo Application AB.
Inter IKEA Systems has together with Texo Application designed and developed an automated storage and picking solution to the benefit for the IKEA stores, customer order, multichannel retailing and warehouse operations.
“With this acquisition we explore the full potential of the automated storage and picking solution and further develop the IKEA Concept for an even better customer experience and store operation”, says Göran Nilsson, Manager Concept Innovation at Inter IKEA Systems.
Texo Application AB was founded in 2001 in Älmhult, Sweden. The company has 24 co-workers who work to develop tailor made storage and material handling solutions for warehouse and industry logistics.
Texo Applications AB will be a part of Inter IKEA Development BV, a newly formed investment company within the Inter IKEA Group, where new development initiatives are owned and supported with the objective to strengthen the IKEA Concept.