Savant Systems has completed the acquisition of GE Lighting from GE, creating GE Lighting, a Savant Company.
The new agreement includes the long-term license of the GE brand and marks a significant step in Savant Systems’ expansion. Financial details of the deal have not been disclosed.
The headquarters for GE Lighting, a Savant company, will remain at historic NELA Park in East Cleveland, Ohio and GE Lighting president and CEO Bill Lacey will continue in his current capacity. Under a long-term licensing agreement, GE Lighting, a Savant company will continue using the GE brand on its products moving forward.
Commenting on the deal, Lacey said: “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. 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.”
Robert Madonna, chairman of Savant and GE Lighting, added: “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. This acquisition has moved our company significantly toward our goal of becoming the number one intelligent lighting and smart home company worldwide.”