SKYX Platforms Corp. (NASDAQ: SKYX) announced a merger agreement with Deako Inc., a Silicon Valley-backed smart home AI platform and intelligent lighting company. The deal combines the companies' plug-and-play technologies across ceiling outlets, wall outlets, and wall switches. According to the press release, Deako has shipped more than 32 million units over the past five years, generated over $26 million in revenue in 2025, and supplies more than 50 U.S. builders. SKYX expects the combination to accelerate deployment of its technologies through Deako's builder footprint while creating opportunities for Deako products across SKYX's 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 its 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.
This merger matters because it unites two players in the smart home and building technology space, potentially accelerating the adoption of advanced, safe, and smart platforms in homes and commercial buildings. By integrating Deako's builder relationships and shipped volume with SKYX's patented technologies, the combined company could drive standardization of plug-and-play electrical and lighting solutions. The transaction also signals consolidation in the smart home AI sector, where recurring revenue from software and services is increasingly important. For investors, the deal structure and ownership split provide a clear picture of the combined entity's governance and financial obligations. For the industry, the merger could pressure competitors to scale or partner to keep pace with an expanded suite of offerings.
SKYX's mission is to make homes and buildings safe-advanced and smart as the new standard. The company owns over 100 U.S. and global patents and patent pending applications, as well as 60 lighting and home decor websites for retail and commercial segments. Its technologies emphasize high quality and ease of use while enhancing safety and lifestyle. The latest news and updates relating to SKYX are available in the company's newsroom at https://ibn.fm/SKYX. To view the full press release, visit https://ibn.fm/OMnC3.
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