Savant Systems, Inc., a manufacturer of professional smart home products and systems, has announced that it has completed the acquisition of GE Lighting from GE.
The result of this acquisition is the creation of GE Lighting, a Savant company. Financial terms of the deal between Savant and GE were not disclosed.
Bill Lacey, president and CEO of GE Lighting, a Savant company, states the acquisition represents Savant’s commitment to continuing smart home industry innovation.
“For more than a century we’ve been bringing the future to light as part of GE and today we couldn’t be more excited to continue our journey as part of Savant,” Lacey comments.
“Savant is committed to continued investment and innovation in the lamp and fixture space and their deep knowledge and expertise in home automation will help our business accelerate delivery of bold smart home innovation at retail.”
The headquarters for the well-known lighting company, will remain at it current location of historic NELA Park in East Cleveland, Ohio. Lacey will also continue in his current capacity with the popular lighting manufacturer.
Under a long-term licensing agreement, GE Lighting, a Savant company will continue using the GE brand on its products moving forward.
“We are committed to ensuring that Lighting’s long history of industry leadership continues, while bringing exceptional value and reliability to retail partners and consumers,” adds Robert Madonna, chairman of Savant and GE Lighting.
“This acquisition has moved our company significantly toward our goal of becoming the number one intelligent lighting and smart home company worldwide.”
Savant emphasizes that as a brand it remains committed to the professional installation channel for the home, and it will continue to invest heavily in the development of the most advanced products, solutions and services for this market.