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SKYX Platforms To Acquire U.S. AI Smart Home Company Deako For 18.46% Of SKYX; Will Pay Deako’s Lender $4M By Closing And Issue A Note Of $8.5M

Benzinga · 2d ago
  • Deako Inc. is a smart home AI platform and intelligent lighting company with 20 U.S. and global patents and patent pending applications for plug & play advanced, smart home and AI activated lighting wall switches.
  • The merger agreement between SKYX and Deako will enable SKYX to address from A-to-Z the smart electronic real estate of electrical outlet boxes in homes and buildings including wall outlets, wall switches and ceiling outlet boxes for smart home and safety products, lighting, ceiling fans, smoke detectors, among others, all with advanced and smart home plug & play solutions.
  • Most smart home solutions today require time-consuming and costly wired installation and address only part of the A-to-Z opportunity, while the SKYX Deako merger is aiming to facilitate an entire A-to-Z solution, all plug & play for advanced, smart home AI platforms and products.
  • Based on SKYX technology’s safety aspects, during the past years its safe instant plug & play ceiling outlet receptacle system has received vote approvals from U.S. leading building safety standardization organizations including 10 segments in the NFPA-NEC code book (National Fire Protection Association / National Electrical Code) and its technology’s specifications received an approval vote by ANSI/NEMA as a standard.
  • In the past 5 years Deako has shipped over 32 million units of its technologies including its smart home plug-in wall switches, with over $26 million in revenue in 2025.
  • Deako is a leading technology supplier to the builder market with over 50 U.S. builders, including D.R. Horton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes, Schumacher Homes, among others.
  • The merger is expected to fast track SKYX’s technologies and products into Deako’s vast builder market footprint of over 50 U.S. builders, including those named above. Additionally, the merger will open the door for Deako’s products into SKYX projects including Marriott and European hotels, Miami’s $4 billion Smart City, among others.
  • The SKYX Deako merger is expected to increase Deako’s SKU count to the builder, hotel and pro markets five-fold.
  • Why are all cars smart while 90% of homes are not? The main reason and barrier are the complexity, time consuming, costly and rigorous wiring installation. The SKYX Deako merger provides an instant smart home safe plug & play solution for homes, buildings, hotels among others.
  • The merger is expected to provide deployment opportunities of millions of combined products into the builder, hotel and pro market and future recurring revenue opportunities from plug & play product interchangeability, AI services, monitoring, subscriptions, licensing, among others.
  • The merger will enable significant cost saving synergies including overhead consolidation in software, accounting, general administration, sourcing, efficiency optimization and other benefits.
  • Deako’s Founder and CEO is Derek Richardson, former sales leader in prominent tech companies Blackberry and Cypress. Derek will remain CEO of Deako and will lead SKYX’s growth including to the builder, hotel, and pro markets.
  • Deako’s Board members include Paul Jacobs (former Qualcomm Chairman and CEO), Marwan Fawaz (former CEO of Nest), and Executive Chairman, Scott Vertrees.
  • As consideration for the merger SKYX will issue common stock, equal to 18.46% of the Company, totaling 25,000,000 shares subject to up to a 2-year lockup/leak out agreement (1-year full lock up, in addition to 9-12 months leak out) with Rule 10b5-1 trading plan.
  • Post merger, current SKYX’s shareholders will own 84.4% of the Company and Deako’s shareholders and lender collectively will own 15.6%.
  • In addition, SKYX will pay Deako’s lender a payment of $4M by closing and issue a note of $8.5M, with $2.25M paid in Q-1 2027, and the remaining $6.25M in Q-4 2027.
  • The merger will expand the collective patent portfolio where SKYX has over 100 patents and pending applications and Deako with 20 patents and patent pending applications to over 120 patents and patent pending applications, related to platforms, smart home, AI and plug & play products.