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 $26M in Revenues in 2025
Deako is a Leading Technology Supplier to Over 50 U.S. Builders Including D.R. Horton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes, Schumacher Homes, Among Others, and is Expected to Fast Track SKYX’s Technologies to the Vast Builder Market
Deako’s Lead Investor and Board Member, Include Paul Jacobs, former Chairman and CEO of Qualcomm, and Board Member Marwan Fawaz, former CEO of Nest
SKYX and Deako Management will Hold a Conference Call Today, September 10, 2026, at 8:30 a.m. Eastern Time, to Discuss Merger Aspects. See below for dial-in information.
MIAMI, Sept. 10, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), an award winning highly disruptive advanced safe-smart home and AI platform technology company with over 100 U.S. and global pending and issued patents and a portfolio of 60 lighting and home décor websites, with a mission to make homes and buildings become advanced, safe and smart instantly as the new standard, today announced it has signed a merger agreement with U.S. AI smart home Silicon Valley backed company Deako Inc., aiming to lead the AI smart home, builder and hotel markets with their combined plug and play smart home and AI platform technologies.
Merger Agreement Highlights and Economics
- 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.
Paul Jacobs, Deako Board Member, former Chairman and CEO of Qualcomm, said: “Throughout my career, I have been deeply involved in building ecosystems and platforms to integrate diverse capabilities into smartphones and other devices. The merger of SKYX Platforms and Deako brings together two synergistic platforms for the home. To date, the smart home has advanced slowly device by device. SKYX combines its position at the ceiling, its all-in-one smart home hub and AI platform and its safe plug & play ceiling outlet receptacle, with Deako's wall receptacle, intelligent switches and more than 32 million products already shipped into homes. Together they provide the electronic real estate of homes, buildings and hotels, where power, control, sensing and AI intelligence will naturally live. This merger can drive the new standard for safe, smart and AI intelligent homes.”
Marwan Fawaz, Deako Board Member and former CEO of Nest, said: “Smart home solutions have historically been overly complicated to bring to market; they need an easier and more intuitive consumer experience. The combination of SKYX and Deako provides a broad array of products to solve these complex and challenging problems in the home with innovation, simplicity, and safety in mind. Going forward, the combined companies will work in tandem with the large technology/AI providers to capitalize on the tsunami of innovation coming to the intelligent home experience.”
Steve Schmidt, President of SKYX and former CEO of A.C. Nielsen, said: “We are excited about the SKYX Deako merger. I strongly believe that our combined plug & play platform technologies with vast electronic real estate and endless offerings including home safety sensors, smart home sensors, AI intelligence and much more will be game-changing for the smart home, building and hotel industries. Working with Rani for many years, I would emphasize that this merger and its growth potential really demonstrate how Rani’s vision, and business acumen are as unique as his inventing capabilities.”
Derek Richardson, CEO and Founder of Deako Inc., said: “We are very excited for our merger with SKYX and its game-changing platform technologies, including its all-in-one smart home and AI platform technology, as well as its plug & play ceiling outlet receptacle platform that was voted by ANSI / NEMA and NFPA – NEC based on its significant safety aspects. The smart home is won or lost at the moment a house is being built — that's why we built Deako for the builder channel first. As the intelligent home emerges, the electronic real estate inside a house becomes critical infrastructure, and the ceiling and the wall are everything. Joining SKYX pairs what we've built at the wall with what they've built at the ceiling that maximizes performance of smart home products and gives builders one complete, plug-and-play solution instead of a collection of parts."
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: We are very excited for our merger with Deako and its team members. We strongly believe that the SKYX Deako combined platform technologies, patent portfolio, and collective teams, will significantly grow our market penetration in the builder, hotel and pro market and will offer future additional recuring revenue opportunities from plug & play product upgrades, AI services, monitoring, subscriptions, licensing, among others. The SKYX-Deako merger and its terms provide tremendous value validation of our technologies, including our vast global patent portfolio and our safety-related building code approvals by NFPA-NEC and ANSI/NEMA, while also delivering significant value to our shareholders.
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home décor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://www.skyx.com/ or follow us on LinkedIn.