SKYX Platforms (NASDAQ: SKYX) signed a merger agreement with Silicon Valley-backed smart home AI platform and intelligent lighting company Deako Inc., combining the companies plug-and-play technologies across ceiling outlets, wall outlets and wall switches. 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 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, with current SKYX shareholders expected to own 84.4% of the post-merger company and Deako shareholders and lender collectively owning 15.6%. SKYX will also pay Deako 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.
To view the full press release, visit https://ibn.fm/Oua59
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally.
NOTE TO INVESTORS: The latest news and updates relating to SKYX are available in the company’s newsroom at https://ibn.fm/SKYX
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