GE to sell lighting business to Savant SystemsChristian Fernsby ▼ | May 27, 2020
GE announced it has signed a definitive agreement to sell its Lighting business to Savant Systems.
Savant Systems General Electric
Savant, with award-winning products and solutions that span lighting, security, climate, whole-house entertainment including smart speakers, energy management and beyond, is one of the fastest-growing smart home companies and is committed to supporting innovation in the lamp space, helping retailers grow point of sale year over year.
While the acquisition of GE Lighting will broaden the market reach of both companies, the Savant brand remains steadfastly 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.
The proposed transaction includes a long-term licensing agreement for use of the GE brand.
The transaction is subject to customary closing conditions and is expected to close in mid-2020. ■