SKYX Platforms Corp. (NASDAQ: SKYX) has signed a merger agreement with Deako Inc., a Silicon Valley-backed smart home AI platform and intelligent lighting company. The combination aims to integrate SKYX's plug-and-play ceiling outlets, wall outlets, and wall switches with Deako's smart home technologies, creating a more comprehensive offering for builders and consumers.
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 collectively will 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 positions the combined company to capitalize on the growing smart home market, which is increasingly focused on safety, convenience, and energy efficiency.
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 both retail and commercial segments. Its technologies emphasize high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings.
The merger with Deako not only expands SKYX's product portfolio but also provides a direct channel to major homebuilders, potentially accelerating adoption of its plug-and-play technologies. Deako's established relationships with builders could lead to increased installation of SKYX products in new construction, driving revenue growth. Additionally, the combined entity's enhanced intellectual property portfolio and focus on AI-driven services could open new monetization avenues, such as subscription-based monitoring and licensing agreements.
For more details, the full press release is available at https://ibn.fm/OMnC3. Investors can also find the latest news and updates relating to SKYX in the company's newsroom at https://ibn.fm/SKYX.
