Creates smart home and lighting industry leader in the professional installation and retailer channels
Furthers Savant’s mission to become the premier intelligent lighting company
New name will be GE Lighting, a Savant company
Includes long-term license of GE brand
BOSTON, MA (STL.News) GE (NYSE:GE) announced today that it has completed the sale of its Lighting business to Savant Systems, Inc., creating GE Lighting, a Savant company. Financial details were not disclosed.
Bill Lacey, president and CEO of GE Lighting, a Savant company, 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.”
The headquarters for GE Lighting, a Savant company, will remain at historic NELA Park in East Cleveland, Ohio and 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.
Robert Madonna, Chairman of Savant and GE Lighting, a Savant company, said, “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 steadfastly committed to the professional installation channel for the home, and it will continue to invest heavily in the development of the most advanced products, solutions and services for this market.