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 merger will combine SKYX's plug-and-play technologies for ceiling outlets, wall outlets, and wall switches with Deako's established presence in the U.S. homebuilding market. 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. This merger is poised to accelerate the deployment of SKYX's technologies through Deako's builder footprint while creating opportunities for Deako products across SKYX's hotel and development projects.
Under the terms of the agreement, SKYX will issue 25 million common shares as merger consideration, subject to a lockup and leak-out agreement. Upon completion, 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, which is expected to create cost-saving synergies and future recurring revenue opportunities from product upgrades, AI services, monitoring, subscriptions, and licensing.
The merger holds significant implications for the smart home and building technology sector. By integrating SKYX's advanced, safe, and smart platform technologies with Deako's proven ability to scale in the builder market, the combined company is positioned to drive adoption of smart home solutions as a standard in new construction. SKYX's mission is to make homes and buildings safe-advanced and smart as the new standard, and with over 100 U.S. and global patents and patent pending applications, as well as ownership of 60 lighting and home decor websites, the company is well-equipped to enhance safety and lifestyle in homes and buildings globally. The merger is expected to create a stronger entity capable of delivering innovative products and services to a broad audience.
For investors, the deal offers potential upside through operational synergies and new revenue streams. The lockup and leak-out agreement on the shares issued to Deako shareholders aligns interests and helps ensure a stable transition. The combined company's expanded patent portfolio and builder relationships could accelerate market penetration and drive long-term growth. SKYX's existing newsroom provides ongoing updates, and the full press release is available at https://ibn.fm/OMnC3. Additionally, the latest news and updates relating to SKYX are available in the company's newsroom at https://ibn.fm/SKYX.
The merger between SKYX and Deako represents a strategic move to consolidate expertise and resources in the rapidly evolving smart home market. By combining their technologies and market access, the companies aim to set new standards for safety, intelligence, and convenience in residential and commercial buildings. The transaction is subject to customary closing conditions and is expected to close in the near term.
