Savant completes acquisition of GE Lighting; Bill Lacey continues as President

On July 1, industry leader in professional smart home solutions, Savant Systems, Inc., announced that it has completed the acquisition of the GE Lighting business under GE. It is now GE Lighting, a Savant company. Financial details were not disclosed.

Bill Lacey, President and CEO of Savant GE Lighting, said: 'For over a century, we have brought light as part of GE. Today, we are very pleased to become part of Savant and continue our journey. Savant is committed to continued investment and innovation in the lighting sector, and their deep knowledge and expertise in home automation will help us accelerate bold smart home innovations in the retail sector.'

The headquarters of Savant GE Lighting will remain at the historic NELA Park in East Cleveland, Ohio, and Bill Lacey will continue in his current role. Under a long-term licensing agreement, Savant GE Lighting will continue to use the GE brand on its products.

Robert Madonna, Chairman of Savant and Savant GE Lighting, stated: 'We are committed to ensuring that its long history of leadership in the lighting industry continues while delivering exceptional value and reliability to retail partners and consumers. This acquisition represents a major step forward for our company toward becoming the world's largest smart lighting and smart home company.'

Data shows that Savant Systems, Inc. is a company based in Massachusetts, a leader in the field of home control and automation, with business covering lighting, security, climate, whole-home entertainment including smart speakers, energy management, etc., and is one of the fastest-growing smart home companies.

GE announced at the end of May this year that it has signed a final agreement to sell its lighting business (consumer-focused home lighting business) to Savant. Since then, GE has bid farewell to its nearly 130-year-old lighting business and withdrawn from its last consumer product business, a move that will completely sever its ties with ordinary consumers.

(Source: China Light Network)