GE inks an agreement to sell its Lighting business to Savant Systems

GE has recently announced that it has inked a definitive agreement in order to sell out its entire Lighting business over to Savant Systems, Inc., which a leading firm in providing professional smart home spaces. The details of financial transaction have not been disclosed yet.

CEO and Chairman of GE, H. Lawrence Culp, Jr said that the recent transaction has been deemed as a very crucial step for the transformation of the company into a highly focus industrial firm. The GE Lightning employees shall be joining a quickly growing leader within home automation sharing their desire to bring the future to light.

GE Lighting shall be continuing the legacy of constant innovation along with Savant, while the others working at GE will be continuing to boost and enhance the infrastructure technologies that are essentially important to the firm.

Robert Madonna, CEO and Founder of Savant commented that the mission for Savant from the very beginning has been to develop the best smart home brand worldwide and the company believes that the purchase of GE Lighting has pushed Savant majorly towards the main goal.

The company is dedicated to ensuring that the long history of GE Lightings industry leadership shall continue and it shall bring significant value as well as reliability to the consumers and the retail partners as the most prominent and renowned intelligent lighting firm across the world. The consumers have become more aware of the security, entertainment, connectivity and intelligent lighting that can be enjoyed from the comforts of their homes.

Reportedly, the transaction proposed will be getting together the expertise and the legacy with the some of the best smart home solutions of Savant as well as the famous culture of innovation while also building a union of recognizable and trusted best brands within the connected home and lighting technology markets.

Source Credit- https://www.gelighting.com/news/ge-sell-lighting-business-savant-systems-inc