Savant Systems has successfully completed the acquisition of GE Lighting from GE, creating GE Lighting, a Savant company.
This news comes following the announcement of the
proposed deal at the end of last month. Financial details of the acquisition were not disclosed.
GE Lighting, a Savant company’s headquarters will remain at historic NELA Park in East Cleveland, Ohio and Bill Lacey will continue as president and CEO. 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 acquisition, 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, a Savant company 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.”
The Savant brand remains committed to the professional installation channel for the home, and it will continue its heavy investment in developing products, solutions and services for the market.