SKYX Platforms (NASDAQ: SKYX) has signed a merger agreement with Deako Inc., a Silicon Valley-backed smart home AI platform and intelligent lighting company. The deal aims to combine the companies' plug-and-play technologies across ceiling outlets, wall outlets, and wall switches, according to a press release. Deako has shipped more than 32 million units over the past five years, generated more than $26 million in revenue in 2025, and supplies more than 50 U.S. builders. SKYX said the combination is expected to accelerate deployment of its technologies through Deako's builder footprint while creating opportunities for Deako products across SKYX hotel and development projects.
Under the agreement, SKYX will issue 25 million common shares as merger consideration, subject to a lockup and leak-out agreement. Current SKYX shareholders are expected to own 84.4% of the post-merger company, while Deako shareholders and lender will collectively own 15.6%. SKYX will also pay Deako's lender $4 million at closing and issue an $8.5 million note, with $2.25 million due in the first quarter of 2027 and $6.25 million in the fourth quarter. The combination will bring together more than 120 patents and pending applications and is expected to create cost-saving synergies and future recurring revenue opportunities from product upgrades, AI services, monitoring, subscriptions, and licensing.
The merger matters because it consolidates two players in the smart home and intelligent lighting space, potentially accelerating the adoption of advanced, safe, and smart technologies in homes and buildings. By integrating SKYX's patented platform technologies with Deako's established builder relationships, the combined company could drive standardization of plug-and-play electrical solutions. The transaction also signals a strategic move to capture recurring revenue through AI-driven services and subscriptions, a growing trend in the smart home market. For investors, the deal offers exposure to a larger addressable market and potential operational efficiencies. The full press release can be viewed at https://ibn.fm/OMnC3.
SKYX, which owns over 100 U.S. and global patents and patent pending applications, also operates 60 lighting and home decor websites for retail and commercial segments. The company's mission is to make homes and buildings safe-advanced and smart as the new standard. The latest news and updates relating to SKYX are available in the company's newsroom at https://ibn.fm/SKYX. The merger is subject to customary closing conditions and is expected to create a more competitive entity in the smart home technology sector.
