SKYX Completes Deako Merger, Expanding Smart-Home Platform and Builder-Market Reach
October 15, 2026 - by Editor Prism MarketView
Combined company reports an estimated pipeline exceeding 4 million units and expects more than $6 million in annual expense savings
SKYX Platforms Corp. (NASDAQ: SKYX) has completed its merger with Deako Inc., combining its ceiling-based plug-and-play electrical technologies with Deako’s smart wall-switch and intelligent lighting platform. The transaction broadens SKYX’s product offering and provides access to Deako’s network of more than 50 U.S. home builders, including D.R. Horton and Toll Brothers.
According to the company, the combined business has an estimated pipeline exceeding 4 million units, with an expected average selling price of approximately $50 per product. These figures represent management’s estimates of potential deployment opportunities rather than reported sales.
Deako has shipped more than 32 million units, including its smart plug-in wall switches, and generated more than $26 million in revenue in 2025. Its builder customers include Risewell Homes, Adams Homes, Maronda Homes, Shea Homes, and Schumacher Homes. Deako also recently extended supply agreements with D.R. Horton and Stone Martin.
The combination brings together technologies for wall switches, wall outlets, and ceiling outlet boxes, with applications spanning lighting, ceiling fans, smoke detectors, sensors, and connected-home products. Management expects the broader product range to create an opportunity to increase Deako’s revenue per home by up to five times, while introducing Deako products into SKYX’s hospitality and development projects.
SKYX estimates that eliminating overlapping expenses could generate more than $6 million in annual savings. Management expects those reductions to move Deako into profitability and support SKYX’s goal of becoming cash-flow positive. Both outcomes remain forward-looking objectives dependent on integration and operating performance.
Deako founder and CEO Derek Richardson said the combination pairs Deako’s established builder relationships with SKYX’s broader technology portfolio and growing presence in hotel and builder markets. SKYX founder and Executive Chairman Rani Kohen described the closing as an opportunity to accelerate builder-market penetration through the companies’ complementary products and customer relationships.
As consideration for the merger, SKYX issued 25 million common shares. Following the transaction, existing SKYX shareholders own 84.4% of the company, while Deako shareholders and its lender collectively own 15.6%. The issued shares are subject to a 21-month lock-up and leak-out arrangement, beginning with a 12-month full lock-up and followed by scheduled quarterly releases, with sales subject to a Rule 10b5-1 trading plan.
SKYX also paid Deako’s senior lender $2 million at signing and $2 million at closing, and issued an $8.5 million secured promissory note. Of that amount, $2.25 million is payable in the first quarter of 2027, with the remaining $6.25 million payable in the fourth quarter.
The merger expands SKYX’s portfolio to more than 120 issued and pending patents. Beyond hardware sales, the company identifies potential recurring-revenue opportunities from product upgrades, AI services, monitoring, subscriptions, and licensing. With the transaction complete, the focus shifts to integrating operations, realizing the projected savings, and converting the combined pipeline into product deployments and revenue.
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