SKYX Signs Merger Agreement With Deako to Combine Plug-and-Play Smart Home Platforms

SKYX Platforms Corp. (NASDAQ: SKYX) has signed a merger agreement with Deako Inc., a Silicon Valley-backed smart-home technology company. The proposed combination brings together SKYX’s ceiling-based plug-and-play electrical platform and Deako’s smart wall-switch technology, with the companies targeting builder, hotel, and professional installation markets.

Deako develops plug-and-play wall switches and intelligent lighting controls, supported by 20 issued and pending U.S. and global patents. SKYX says the merger would extend its platform beyond ceiling electrical outlets into wall outlets and switches, creating a more comprehensive system for lighting, fans, sensors, smoke detectors, smart-home products, and other connected devices.

The companies describe this as an effort to address a broader portion of the electrical infrastructure in homes and buildings. In practical terms, SKYX’s ceiling receptacle system and Deako’s wall-switch products would be marketed as complementary components intended to simplify the installation and upgrading of smart-home products.

Deako reported shipping more than 32 million technology units over the last five years and generating more than $26 million in 2025 revenue. It also serves more than 50 U.S. builders, including D.R. Horton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes, and Schumacher Homes.

For SKYX, Deako’s builder relationships represent an established route to market for its ceiling-based technologies. The company expects the merger to help introduce its products to Deako’s builder network, while giving Deako access to SKYX’s commercial and hospitality projects, which the release says include Marriott hotels, European hotels, and Miami’s planned $4 billion Smart City project.

Management expects the combined platform to increase Deako’s product assortment available to builders, hotels, and professional markets by approximately five times. The companies also cite potential longer-term revenue streams from product upgrades and interchangeability, AI services, monitoring, subscriptions, and licensing.

These opportunities remain prospective and will depend on successful product integration, adoption by builders and other customers, and the companies’ ability to execute commercially. The immediate strategic value described in the release is the combination of Deako’s wall-based distribution footprint with SKYX’s ceiling-based technology platform.

SKYX states that its plug-and-play ceiling receptacle system has received approval votes covering 10 segments in the NFPA National Electrical Code and that related specifications received an approval vote by ANSI/NEMA. Deako contributes 20 issued and pending patents, while SKYX reports more than 100 issued and pending patents; together, the companies expect the combined patent portfolio to exceed 120 patents and pending applications.

The release also emphasizes potential operating efficiencies from consolidated software, accounting, sourcing, general administration, and related functions. Whether those cost savings materialize will depend on post-closing integration and the ability to retain and coordinate the companies’ respective teams.

SKYX will issue 25 million common shares to Deako shareholders, equal to 18.46% of the company’s outstanding common stock. The shares will be subject to a one-year full lock-up followed by a nine- to 12-month leak-out period, using a Rule 10b5-1 trading plan.

After the merger, existing SKYX shareholders are expected to own 84.4% of the company, while Deako shareholders and Deako’s lender collectively are expected to own 15.6%. SKYX will also pay Deako’s lender $4 million at closing and issue an $8.5 million note, with $2.25 million due in the first quarter of 2027 and the remaining $6.25 million due in the fourth quarter of 2027.

Deako founder and CEO Derek Richardson will remain CEO of Deako and is expected to lead growth initiatives in builder, hotel, and professional channels. Deako’s board includes Paul Jacobs, former chairman and CEO of Qualcomm; Marwan Fawaz, former CEO of Nest; and Executive Chairman Scott Vertrees.

The announcement concerns a signed merger agreement, not a completed transaction. If it closes, the combined company would have a broader hardware and smart-home platform spanning both walls and ceilings, along with a larger patent base and access to Deako’s established builder relationships. The principal execution questions will be whether the companies can complete the transaction, integrate their technologies and teams effectively, translate builder relationships into sales of additional SKYX products, and develop the anticipated recurring-revenue offerings over time.