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 combination will integrate SKYX's plug-and-play ceiling outlets, wall outlets, and wall switches with Deako's technologies, aiming to accelerate the deployment of smart home solutions across residential and commercial markets.
Deako has shipped more than 32 million units over the past five years, generated over $26 million in revenue in 2025, and supplies more than 50 U.S. builders. This extensive builder footprint provides SKYX with a direct channel to scale its advanced technologies, while Deako products gain access to SKYX's hotel and development projects. The merger is expected to create cost-saving synergies and future recurring revenue opportunities from product upgrades, AI services, monitoring, subscriptions, and licensing.
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, with 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.
The merger matters because it positions SKYX to capitalize on the growing demand for smart home and building technologies. By leveraging Deako's established builder relationships, SKYX can accelerate adoption of its safe, smart, and AI platform technologies, which are designed to enhance safety and lifestyle in homes and buildings. The deal also opens cross-selling opportunities, as Deako's products can be integrated into SKYX's hotel and development projects, potentially increasing revenue streams for both companies.
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, along with 60 lighting and home decor websites for retail and commercial segments. This merger aligns with SKYX's strategy to drive innovation and expand its market presence.
For further details, the full press release is available at https://ibn.fm/OMnC3. The latest news and updates relating to SKYX are available in the company's newsroom at https://ibn.fm/SKYX.
The merger is subject to customary closing conditions and is expected to close in the near term. The combined company will be led by SKYX's existing management team, with Deako's expertise integrated into the operations. This strategic move is anticipated to enhance shareholder value by creating a more comprehensive smart home platform and driving long-term growth.
