Combined Companies Have an Estimated Pipeline Exceeding 4 Million Units, with an Expected Average Selling Price of Approximately $50 per Product
Deako is a Leading Technology Supplier to Over 50 U.S. Home Builders Including D.R. Horton and Toll Brothers, Among Others
MIAMI, Oct. 14, 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 120 U.S. and global pending and issued patents, with a mission to make homes and buildings advanced, safe and smart instantly as the new standard, today announced the closing of its merger with Deako, Inc., a Silicon Valley-backed U.S. smart home technology company. The combined company aims to lead the AI smart home, builder and hotel markets with its plug & play smart home and AI platform technologies.
Merger Highlights and Economics
- Post merger, current SKYX’s shareholders own 84.4% of the Company and Deako’s shareholders and lender collectively own 15.6%.
- Deako’s Lead Investors include Paul Jacobs, former Chairman and CEO of Qualcomm; Deako’s Former Board Member Marwan Fawaz was the former CEO of Nest (Google).
- The combined SKYX and Deako pipeline is estimated at over 4 million units with an expected average selling price of approximately $50 per product.
- Synergies between SKYX and Deako are expected to save over $6 million in overlapping annual expenses.
- SKYX’s full product line is expected to create an opportunity to increase Deako’s revenue per home by up to five-fold.
- Deako has recently extended it supply agreement with leading builders D.R. Horton and Stone Martin.
- Deako has shipped over 32 million units, including its smart plug-in wall switches, and generated over $26 million in revenue in 2025.
- The SKYX Deako combined estimated expense reduction of over $6 million annually is expected to move Deako into profitability as well as support SKYX’s goal of becoming cash flow positive.
- SKYX Deako merger is expected to provide future recurring revenue opportunities from plug & play product interchangeability, AI services, monitoring, subscriptions, licensing, among others.
- Deako is a leading technology supplier to the builder market, and its customers include over 50 U.S. home builders, including D.R. Horton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes and Schumacher Homes, among others.
- Deako, Inc. is a smart home and intelligent lighting company with 20 U.S. and global issued and pending patents for plug & play smart and AI-activated lighting wall switches.
- The merger expands SKYX’s collective patent portfolio to over 120 patents and pending applications related to platforms, smart home, AI and plug & play products.
- The merger between SKYX and Deako will enable SKYX to offer an A-to-Z AI and smart home plug & play solution for 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.
- Most smart home solutions today require time-consuming and costly wired installation and address only part of the A-to-Z opportunity, while the combined company aims to offer a complete A-to-Z AI and plug & play smart home solution.
- The merger is expected to fast-track SKYX’s technologies and products into Deako’s builder footprint of over 50 U.S. home builders, including those named above.
- The merger opens the door for Deako’s products in SKYX projects, including Marriott and European hotels and Miami’s $4 billion Smart City.
- The merger is expected to provide deployment opportunities of millions of combined products into the builder, hotel and pro markets, and future recurring revenue opportunities from plug & play product interchangeability, AI services, monitoring, subscriptions, licensing, among others.
- As consideration for the merger, SKYX issued 25,000,000 shares of common stock, subject to a 21-month lock-up and leak-out agreement, with a 12-month full lock-up, followed by quarterly releases after 12 months, 15 months, 18 months, and 21 months after the closing, with share sales subject to a Rule 10b5-1 trading plan. Post merger, current SKYX’s shareholders own 84.4% of the Company and Deako’s shareholders and lender collectively own 15.6%.
- SKYX paid Deako’s senior lender $2M at signing on September 9, 2026, and $2M at closing, and issued an $8.5M secured promissory note, with $2.25M payable in Q1 2027 and the remaining $6.25M payable in Q4 2027.
- Based on its safety features, SKYX’s plug & play ceiling outlet receptacle system has in recent years received approval votes from leading U.S. building safety standards organizations including 10 segments in the NFPA-NEC code book (National Fire Protection Association / National Electrical Code) and its specifications received an approval vote as an ANSI/NEMA standard.
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “The close of the SKYX Deako merger is a major step forward in our mission to make advanced, safe, smart homes and buildings the new standard. Combining our complementary technologies, extensive patent portfolios, and established market relationships, we believe we are creating the most comprehensive A to Z smart home and AI platform in the industry. Importantly, Deako’s track record with 50 prominent U.S. builders provides an opportunity to significantly accelerate SKYX’s builder market penetration, creating a meaningful long-term value for our shareholders.”
Derek Richardson, Founder and CEO of Deako, Inc., stated: “We are excited for the official closing of the SKYX Deako merger. In Deako, we bring a consistent business track record with more than 50 U.S. home builders and over 32 million units shipped, and SKYX brings a broad patent technology portfolio of plug & play and smart home and AI platforms, complemented by its growing market penetration into the hotel and builder segments. Together, we see a significant opportunity to increase revenue per home by as much as five-fold and to create long-term value for SKYX shareholders.”
For more information about Deako: Click Here
For a video demo of SKYX’s technologies: Click Here
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings safe, advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 120 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.
