Ownership change for lighting innovator
Savant Systems Inc, an industry leader in the professional smart home space, has signed a definitive agreement to purchase the GE Lighting division of GE.
“Savant’s mission from the start has been to create the number one smart home brand in the world and I am confident that the acquisition of GE Lighting has moved us significantly toward that ultimate goal” commented Savant founder and CEO Robert Madonna. “We are committed to ensuring that GE Lighting’s long history of industry leadership continues, while bringing exceptional value and reliability to retail partners and consumers as the number one intelligent lighting company worldwide. Never before has connectivity, security, intelligent lighting and entertainment, all enjoyed within the comforts of home, been more top of mind with consumers.”
GE Chairman and CEO H. Lawrence Culp Jr, added: “Today’s transaction is another important step in the transformation of GE into a more focused industrial company. Our GE Lighting colleagues will join a fast-growing leader in home automation that shares their passion for bringing the future to light. Together with Savant, GE Lighting will continue its legacy of innovation, while we at GE will continue to advance the infrastructure technologies that are core to our company and draw on the roots of our founder, Thomas Edison.”
For nearly 130 years, GE Lighting has been at the forefront of every major lighting innovation, from the dawn of incandescent bulbs to industry-first LED and smart solutions along with the world’s first voice-embedded lighting product. Today, GE Lighting’s portfolio includes leading home lighting and innovative smart home solutions. The business will remain headquartered in Cleveland, Ohio and its more than 700 employees will transfer to Savant upon completion of the transaction.