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 deal combines the companies' plug-and-play technologies across ceiling outlets, wall outlets and wall switches, according to a press release. The merger is expected to accelerate deployment of SKYX's technologies through Deako's builder footprint while creating opportunities for Deako products across SKYX hotel and development projects.
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. 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. It is expected to create cost-saving synergies and future recurring revenue opportunities from product upgrades, AI services, monitoring, subscriptions and licensing. 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, plus 60 lighting and home decor websites for retail and commercial segments.
This merger matters because it consolidates two innovative players in the smart home space, potentially speeding up the adoption of advanced safety and AI technologies in residential and commercial buildings. For industry stakeholders, the combined entity could offer more integrated solutions, reducing installation complexity and costs. For consumers, it may lead to smarter, safer living environments. The deal also signals growing investor interest in smart building technologies, with recurring revenue models from AI services and subscriptions becoming a key focus. The full press release is available at https://ibn.fm/OMnC3. For ongoing updates, visit SKYX's newsroom at https://ibn.fm/SKYX.
