{"success":true,"data":{"pressRelease":{"id":"140233","rtpr_id":"nGNX31n6Qs-20260910","ticker":"SKYX","exchange":"NASDAQ","all_tickers":["SKYX"],"title":"SKYX Signs Merger with Leading U.S. AI Smart Home Silicon Valley Backed Company Deako, Aiming to Lead the Smart Home, Builder & Hotel Markets with Their Combined Platform Technologies","author":"Globe Newswire","published_at":"2026-09-10T11:31:25.151Z","article_body":"In the Past 5 Years Deako Has Shipped Over 32 million Units of Its\nTechnologies Including Its Smart Home Plug-In Wall Switches, with Over $26M in\nRevenues in 2025 \n\nDeako is a Leading Technology Supplier to Over 50 U.S. Builders Including D.R.\nHorton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes,\nSchumacher Homes, Among Others, and is Expected to Fast Track SKYX’s\nTechnologies to the Vast Builder Market\n\nDeako’s Lead Investor and Board Member, Include Paul Jacobs, former Chairman\nand CEO of Qualcomm, and Board Member Marwan Fawaz, former CEO of Nest\n\nSKYX and Deako Management will Hold a Conference Call Today, September 10,\n2026, at 8:30 a.m. Eastern Time, to Discuss Merger Aspects. See below for\ndial-in information.\n\nMIAMI, Sept. 10, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX)\n(d/b/a SKYX Technologies) (the “Company” or “SKYX”), an award winning\nhighly disruptive advanced safe-smart home and AI platform technology company\nwith over 100 U.S. and global pending and issued patents and a portfolio of 60\nlighting and home décor websites, with a mission to make homes and buildings\nbecome advanced, safe and smart instantly as the new standard, today announced\nit has signed a merger agreement with U.S. AI smart home Silicon Valley backed\ncompany Deako Inc., aiming to lead the AI smart home, builder and hotel\nmarkets with their combined plug and play smart home and AI platform\ntechnologies.\n\nMerger Agreement Highlights and Economics\n* Deako Inc. is a smart home AI platform and intelligent lighting company with\n20 U.S. and global patents and patent pending applications for plug & play\nadvanced, smart home and AI activated lighting wall switches.\n* The merger agreement between SKYX and Deako will enable SKYX to address from\nA-to-Z the smart electronic real estate of electrical outlet boxes in homes\nand buildings including wall outlets, wall switches and ceiling outlet boxes\nfor smart home and safety products, lighting, ceiling fans, smoke detectors,\namong others, all with advanced and smart home plug & play solutions.\n* Most smart home solutions today require time-consuming and costly wired\ninstallation and address only part of the A-to-Z opportunity, while the SKYX\nDeako merger is aiming to facilitate an entire A-to-Z solution, all plug &\nplay for advanced, smart home AI platforms and products.\n* Based on SKYX technology’s safety aspects, during the past years its safe\ninstant plug & play ceiling outlet receptacle system has received vote\napprovals from U.S. leading building safety standardization organizations\nincluding 10 segments in the NFPA-NEC code book (National Fire Protection\nAssociation / National Electrical Code) and its technology’s specifications\nreceived an approval vote by ANSI/NEMA as a standard.\n* In the past 5 years Deako has shipped over 32 million units of its\ntechnologies including its smart home plug-in wall switches, with over $26\nmillion in revenue in 2025.\n* Deako is a leading technology supplier to the builder market with over 50\nU.S. builders, including D.R. Horton, Toll Brothers, Risewell Homes, Adams\nHomes, Maronda Homes, Shea Homes, Schumacher Homes, among others.\n* The merger is expected to fast track SKYX’s technologies and products into\nDeako’s vast builder market footprint of over 50 U.S. builders, including\nthose named above. Additionally, the merger will open the door for Deako’s\nproducts into SKYX projects including Marriott and European hotels, Miami’s\n$4 billion Smart City, among others.\n* The SKYX Deako merger is expected to increase Deako’s SKU count to the\nbuilder, hotel and pro markets five-fold.\n* Why are all cars smart while 90% of homes are not? The main reason and\nbarrier are the complexity, time consuming, costly and rigorous wiring\ninstallation. The SKYX Deako merger provides an instant smart home safe plug &\nplay solution for homes, buildings, hotels among others.\n* The merger is expected to provide deployment opportunities of millions of\ncombined products into the builder, hotel and pro market and future recurring\nrevenue opportunities from plug & play product interchangeability, AI\nservices, monitoring, subscriptions, licensing, among others.\n* The merger will enable significant cost saving synergies including overhead\nconsolidation in software, accounting, general administration, sourcing,\nefficiency optimization and other benefits.\n* Deako’s Founder and CEO is Derek Richardson, former sales leader in\nprominent tech companies Blackberry and Cypress. Derek will remain CEO of\nDeako and will lead SKYX’s growth including to the builder, hotel, and pro\nmarkets.\n* Deako’s Board members include Paul Jacobs (former Qualcomm Chairman and\nCEO), Marwan Fawaz (former CEO of Nest), and Executive Chairman, Scott\nVertrees.\n* As consideration for the merger SKYX will issue common stock, equal to\n18.46% of the Company, totaling 25,000,000 shares subject to up to a 2-year\nlockup/leak out agreement (1-year full lock up, in addition to 9-12 months\nleak out) with Rule 10b5-1 trading plan.\n* Post merger, current SKYX’s shareholders will own 84.4% of the Company and\nDeako’s shareholders and lender collectively will own 15.6%.\n* In addition, SKYX will pay Deako’s lender a payment of $4M by closing and\nissue a note of $8.5M, with $2.25M paid in Q-1 2027, and the remaining $6.25M\nin Q-4 2027.\n* The merger will expand the collective patent portfolio where SKYX has over\n100 patents and pending applications and Deako with 20 patents and patent\npending applications to over 120 patents and patent pending applications,\nrelated to platforms, smart home, AI and plug & play products.\nPaul Jacobs, Deako Board Member, former Chairman and CEO of Qualcomm, said:\n“Throughout my career, I have been deeply involved in building ecosystems\nand platforms to integrate diverse capabilities into smartphones and other\ndevices. The merger of SKYX Platforms and Deako brings together two\nsynergistic platforms for the home. To date, the smart home has advanced\nslowly device by device. SKYX combines its position at the ceiling, its\nall-in-one smart home hub and AI platform and its safe plug & play ceiling\noutlet receptacle, with Deako's wall receptacle, intelligent switches and more\nthan 32 million products already shipped into homes. Together they provide the\nelectronic real estate of homes, buildings and hotels, where power, control,\nsensing and AI intelligence will naturally live. This merger can drive the new\nstandard for safe, smart and AI intelligent homes.”\n\nMarwan Fawaz, Deako Board Member and former CEO of Nest, said: “Smart home\nsolutions have historically been overly complicated to bring to market; they\nneed an easier and more intuitive consumer experience. The combination of SKYX\nand Deako provides a broad array of products to solve these complex and\nchallenging problems in the home with innovation, simplicity, and safety in\nmind. Going forward, the combined companies will work in tandem with the large\ntechnology/AI providers to capitalize on the tsunami of innovation coming to\nthe intelligent home experience.”\n\nSteve Schmidt, President of SKYX and former CEO of A.C. Nielsen, said: “We\nare excited about the SKYX Deako merger. I strongly believe that our combined\nplug & play platform technologies with vast electronic real estate and endless\nofferings including home safety sensors, smart home sensors, AI intelligence\nand much more will be game-changing for the smart home, building and hotel\nindustries. Working with Rani for many years, I would emphasize that this\nmerger and its growth potential really demonstrate how Rani’s vision, and\nbusiness acumen are as unique as his inventing capabilities.”\n\nDerek Richardson, CEO and Founder of Deako Inc., said: “We are very excited\nfor our merger with SKYX and its game-changing platform technologies,\nincluding its all-in-one smart home and AI platform technology, as well as its\nplug & play ceiling outlet receptacle platform that was voted by ANSI / NEMA\nand NFPA – NEC based on its significant safety aspects. The smart home is\nwon or lost at the moment a house is being built — that's why we built Deako\nfor the builder channel first. As the intelligent home emerges, the electronic\nreal estate inside a house becomes critical infrastructure, and the ceiling\nand the wall are everything. Joining SKYX pairs what we've built at the wall\nwith what they've built at the ceiling that maximizes performance of smart\nhome products and gives builders one complete, plug-and-play solution instead\nof a collection of parts.\"\n\nRani Kohen, Founder and Executive Chairman of SKYX Platforms, said: We are\nvery excited for our merger with Deako and its team members. We strongly\nbelieve that the SKYX Deako combined platform technologies, patent portfolio,\nand collective teams, will significantly grow our market penetration in the\nbuilder, hotel and pro market and will offer future additional recuring\nrevenue opportunities from plug & play product upgrades, AI services,\nmonitoring, subscriptions, licensing, among others. The SKYX-Deako merger and\nits terms provide tremendous value validation of our technologies, including\nour vast global patent portfolio and our safety-related building code\napprovals by NFPA-NEC and ANSI/NEMA, while also delivering significant value\nto our shareholders.\n\nFor more information about Deako: Click Here\n(https://www.globenewswire.com/Tracker?data=CXkjY1zRMs9CBi_2eWT-9ESH7ZTfEUEuXnKErOE6_uf4qG1SsPuesvP5OWZRF17IVg8gPr24M-ItN8Pag2UeSA==)\n\nFor a video demo of SKYX’s technologies: Click Here\n(https://www.globenewswire.com/Tracker?data=CXkjY1zRMs9CBi_2eWT-9AGzuXfLcRiU71PtuwRFk4Y3lyXo9NIvKfzygu6cdxR_OVppvH2L7zvvLjqbVIcgRiLsCYMw3YiDbuQ5Bo2ChpYb7ua7Y1_PKq4i2NmHf3HzrhuZbLM3U5XFQr_EZlB_kWcbdDy5Kj7dguGJB2oEArg=)\n\n\n\nDial In Information\n\nParticipating Management\n\nSKYX Representatives\nDeako Representatives\n\nConference Call and Webcast Details\n\nDate: Thursday, September 10, 2026\nTime: 8:30 a.m. Eastern Time\nU.S. dial-in: 1-877-407-0792\nInternational dial-in: 1-201-689-8263\nWebcast: https://viavid.webcasts.com/starthere.jsp?ei=1775971&tp_key=18e7862478\n\nParticipants should connect approximately 10 minutes before the scheduled\nstart Participant Listening: 1-877-407-0792 or 1-201-689-8263\n\nCall me™: \n\nhttps://callme.viavid.com/viavid/?callme=true&passcode=13760591&h=true&info=company&r=true&B=6\n- Participants can use Guest dial-in #s above and be answered by an operator\nOR click the Call me™ link for instant telephone access to the event.\n- Call me™ link will be made active 15 minutes prior to scheduled start\ntime.\n\nTelephone replay\n\nA telephone replay will be available approximately three hours after the call\nthrough October 10, 2026, at 11:59 p.m. Eastern Time.\n\nU.S. replay dial-in: 1-844-512-2921\nInternational replay dial-in: 1-412-317-6671\nReplay access ID: 13762632\n\nAbout SKYX Platforms Corp.\n\nAs electricity is a standard in every home and building, our mission is to\nmake homes and buildings become safe-advanced and smart as the new standard.\nSKYX has a series of highly disruptive advanced, safe, smart and AI platform\ntechnologies, with over 100 U.S. and global patents and patent pending\napplications. Additionally, the Company owns 60 lighting and home décor\nwebsites for both retail and commercial segments. Our technologies place an\nemphasis on high quality and ease of use, while significantly enhancing both\nsafety and lifestyle in homes and buildings. We believe that our products are\na necessity in every room in both homes and other buildings in the U.S. and\nglobally. For more information, please visit our website\nat https://www.skyx.com/ or follow us on LinkedIn\n(https://www.globenewswire.com/Tracker?data=eJOe44vFKtlnWyv8HGQcKRxAmaCQL3Tsfr1ArfOjYq4aNVRVzPcILAAfRFjfO9_vU3zjtq6kZ5BlCKuUwiqou3nz2O7b6Do16khJXiCA6z1Q13gfrTciHZMk6DBeB_oeQu1d_VmTTONIWULqf6mYTA==).\n\nForward-Looking Statements\n\nCertain statements made in this press release are not based on historical\nfacts, but are forward-looking statements. These statements can be identified\nby the use of forward-looking terminology such as “aim,” “anticipate,”\n“believe,” “can,” “could,” “continue,” “estimate,”\n“expect,” “evaluate,” “forecast,” “guidance,” “intend,”\n“likely,” “may,” “might,” “objective,” “ongoing,”\n“outlook,” “plan,” “potential,” “predict,” “probable,”\n“project,” “seek,” “should,” “target” “view,” “will,”\nor “would,” or the negative thereof or other variations thereon or\ncomparable terminology, although not all forward-looking statements contain\nthese words. These statements reflect the Company’s reasonable judgment with\nrespect to future events and are subject to risks, uncertainties and other\nfactors, many of which have outcomes difficult to predict and may be outside\nour control, that could cause actual results or outcomes to differ materially\nfrom those in the forward-looking statements. Such risks and statements\ninclude, but are not limited to, risks relating to the merger, including risks\narising from the diversion of management’s attention from the Company’s\nongoing business operations, an increase in the amount of costs, fees and\nexpenses and other charges related to the merger agreement or the merger, the\noutcome of any litigation that the Company or Deako may become subject to\nrelating to the merger, the extent of, and the time necessary to obtain, any\nregulatory approvals that may be required for completion of the merger, risks\nof disruption to the Company’s business as a result of the public\nannouncement of the merger, the occurrence of any event, change or other\ncircumstance that could give rise to the termination of the merger agreement\nor other agreements relating to the merger, an inability to complete the\nmerger in a timely manner or at all, including due to a failure of any\ncondition to the closing of the merger to be satisfied or waived by the\napplicable party, a decline in the market price for the Company’s common\nstock if the merger is not completed, risks that the merger disrupts current\nplans and operations of the Company or Deako and potential difficulties in\nCompany or Deako employee retention as a result of the merger, the Company’s\nability to pay the interest and principal on the promissory notes to be issued\nin connection with the merger, and the ability to implement business plans,\nforecasts and other expectations after the completion of the merger, realize\nthe intended benefits of the merger, and identify and realize additional\nopportunities following the merger. Such risks and uncertainties also include\nstatements relating to the Company’s ability to successfully launch,\ncommercialize, develop additional features and achieve market acceptance of\nits products and technologies and integrate its products and technologies with\nthird-party platforms or technologies; the Company’s ability to expand its\nmarket presence and control the market following the merger with Deako; the\nCompany’s ability to achieve positive cash flows; the Company’s efforts\nand ability to drive the adoption of its products and technologies as a\nstandard feature, including their use in homes, hotels, offices and cruise\nships; the Company’s ability to capture market share; the Company’s\nestimates of its potential addressable market and demand for its products and\ntechnologies; the Company’s ability to raise additional capital to support\nits operations as needed, which may not be available on acceptable terms or at\nall; the Company’s ability to continue as a going concern; the Company’s\nability to execute on any sales and licensing or other strategic\nopportunities; the possibility that any of the Company’s products will\nbecome National Electrical Code (NEC)-code or otherwise code mandatory in any\njurisdiction, or that any of the Company’s current or future products or\ntechnologies will be adopted by any state, country, or municipality, within\nany specific timeframe or at all; risks arising from mergers, acquisitions,\njoint ventures and other collaborations; the Company’s ability to attract\nand retain key executives and qualified personnel; guidance provided by\nmanagement, which may differ from the Company’s actual operating results;\nthe potential impact of unstable market and economic conditions on the\nCompany’s business, financial condition, and stock price; and other risks\nand uncertainties described in the Company’s filings with the Securities and\nExchange Commission, including its periodic reports on Form 10-K and Form\n10-Q. There can be no assurance as to any of the foregoing matters. Any\nforward-looking statement speaks only as of the date of this press release,\nand the Company undertakes no obligation to update or revise any\nforward-looking statements, whether as a result of new information, future\nevents or otherwise, except as required by U.S. federal securities laws. \n\nInvestor Relations Contacts:\n\nJeff Ramson\nPCG Advisory\njramson@pcgadvisory.com\n\nRonald A. Both\nEncore Investor Relations\nrb@encore-ir.com\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/035fa895-2b5b-4bec-a3ee-faf9e5904c61\n\n \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/a9ed8146-cd90-4e8c-9d3a-8d0fa2b56607)\nSKYX Signs Merger with Leading U.S. AI Smart Home Silicon Valley Backed\nCompany Deako \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/035fa895-2b5b-4bec-a3ee-faf9e5904c61/en)\nSKYX signed a merger agreement with U.S. AI smart home Silicon Valley backed\ncompany Deako Inc.\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX31n6Qs-20260910","title":"SKYX Signs Merger with Leading U.S. AI Smart Home Silicon Valley Backed Company Deako, Aiming to Lead the Smart Home, Builder & Hotel Markets with Their Combined Platform Technologies","author":"Globe Newswire","ticker":"SKYX","created":"2026-09-10T11:31:25.151Z","tickers":["SKYX"],"exchange":"NASDAQ","article_body":"In the Past 5 Years Deako Has Shipped Over 32 million Units of Its\nTechnologies Including Its Smart Home Plug-In Wall Switches, with Over $26M in\nRevenues in 2025 \n\nDeako is a Leading Technology Supplier to Over 50 U.S. Builders Including D.R.\nHorton, Toll Brothers, Risewell Homes, Adams Homes, Maronda Homes, Shea Homes,\nSchumacher Homes, Among Others, and is Expected to Fast Track SKYX’s\nTechnologies to the Vast Builder Market\n\nDeako’s Lead Investor and Board Member, Include Paul Jacobs, former Chairman\nand CEO of Qualcomm, and Board Member Marwan Fawaz, former CEO of Nest\n\nSKYX and Deako Management will Hold a Conference Call Today, September 10,\n2026, at 8:30 a.m. Eastern Time, to Discuss Merger Aspects. See below for\ndial-in information.\n\nMIAMI, Sept. 10, 2026 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX)\n(d/b/a SKYX Technologies) (the “Company” or “SKYX”), an award winning\nhighly disruptive advanced safe-smart home and AI platform technology company\nwith over 100 U.S. and global pending and issued patents and a portfolio of 60\nlighting and home décor websites, with a mission to make homes and buildings\nbecome advanced, safe and smart instantly as the new standard, today announced\nit has signed a merger agreement with U.S. AI smart home Silicon Valley backed\ncompany Deako Inc., aiming to lead the AI smart home, builder and hotel\nmarkets with their combined plug and play smart home and AI platform\ntechnologies.\n\nMerger Agreement Highlights and Economics\n* Deako Inc. is a smart home AI platform and intelligent lighting company with\n20 U.S. and global patents and patent pending applications for plug & play\nadvanced, smart home and AI activated lighting wall switches.\n* The merger agreement between SKYX and Deako will enable SKYX to address from\nA-to-Z the smart electronic real estate of electrical outlet boxes in homes\nand buildings including wall outlets, wall switches and ceiling outlet boxes\nfor smart home and safety products, lighting, ceiling fans, smoke detectors,\namong others, all with advanced and smart home plug & play solutions.\n* Most smart home solutions today require time-consuming and costly wired\ninstallation and address only part of the A-to-Z opportunity, while the SKYX\nDeako merger is aiming to facilitate an entire A-to-Z solution, all plug &\nplay for advanced, smart home AI platforms and products.\n* Based on SKYX technology’s safety aspects, during the past years its safe\ninstant plug & play ceiling outlet receptacle system has received vote\napprovals from U.S. leading building safety standardization organizations\nincluding 10 segments in the NFPA-NEC code book (National Fire Protection\nAssociation / National Electrical Code) and its technology’s specifications\nreceived an approval vote by ANSI/NEMA as a standard.\n* In the past 5 years Deako has shipped over 32 million units of its\ntechnologies including its smart home plug-in wall switches, with over $26\nmillion in revenue in 2025.\n* Deako is a leading technology supplier to the builder market with over 50\nU.S. builders, including D.R. Horton, Toll Brothers, Risewell Homes, Adams\nHomes, Maronda Homes, Shea Homes, Schumacher Homes, among others.\n* The merger is expected to fast track SKYX’s technologies and products into\nDeako’s vast builder market footprint of over 50 U.S. builders, including\nthose named above. Additionally, the merger will open the door for Deako’s\nproducts into SKYX projects including Marriott and European hotels, Miami’s\n$4 billion Smart City, among others.\n* The SKYX Deako merger is expected to increase Deako’s SKU count to the\nbuilder, hotel and pro markets five-fold.\n* Why are all cars smart while 90% of homes are not? The main reason and\nbarrier are the complexity, time consuming, costly and rigorous wiring\ninstallation. The SKYX Deako merger provides an instant smart home safe plug &\nplay solution for homes, buildings, hotels among others.\n* The merger is expected to provide deployment opportunities of millions of\ncombined products into the builder, hotel and pro market and future recurring\nrevenue opportunities from plug & play product interchangeability, AI\nservices, monitoring, subscriptions, licensing, among others.\n* The merger will enable significant cost saving synergies including overhead\nconsolidation in software, accounting, general administration, sourcing,\nefficiency optimization and other benefits.\n* Deako’s Founder and CEO is Derek Richardson, former sales leader in\nprominent tech companies Blackberry and Cypress. Derek will remain CEO of\nDeako and will lead SKYX’s growth including to the builder, hotel, and pro\nmarkets.\n* Deako’s Board members include Paul Jacobs (former Qualcomm Chairman and\nCEO), Marwan Fawaz (former CEO of Nest), and Executive Chairman, Scott\nVertrees.\n* As consideration for the merger SKYX will issue common stock, equal to\n18.46% of the Company, totaling 25,000,000 shares subject to up to a 2-year\nlockup/leak out agreement (1-year full lock up, in addition to 9-12 months\nleak out) with Rule 10b5-1 trading plan.\n* Post merger, current SKYX’s shareholders will own 84.4% of the Company and\nDeako’s shareholders and lender collectively will own 15.6%.\n* In addition, SKYX will pay Deako’s lender a payment of $4M by closing and\nissue a note of $8.5M, with $2.25M paid in Q-1 2027, and the remaining $6.25M\nin Q-4 2027.\n* The merger will expand the collective patent portfolio where SKYX has over\n100 patents and pending applications and Deako with 20 patents and patent\npending applications to over 120 patents and patent pending applications,\nrelated to platforms, smart home, AI and plug & play products.\nPaul Jacobs, Deako Board Member, former Chairman and CEO of Qualcomm, said:\n“Throughout my career, I have been deeply involved in building ecosystems\nand platforms to integrate diverse capabilities into smartphones and other\ndevices. The merger of SKYX Platforms and Deako brings together two\nsynergistic platforms for the home. To date, the smart home has advanced\nslowly device by device. SKYX combines its position at the ceiling, its\nall-in-one smart home hub and AI platform and its safe plug & play ceiling\noutlet receptacle, with Deako's wall receptacle, intelligent switches and more\nthan 32 million products already shipped into homes. Together they provide the\nelectronic real estate of homes, buildings and hotels, where power, control,\nsensing and AI intelligence will naturally live. This merger can drive the new\nstandard for safe, smart and AI intelligent homes.”\n\nMarwan Fawaz, Deako Board Member and former CEO of Nest, said: “Smart home\nsolutions have historically been overly complicated to bring to market; they\nneed an easier and more intuitive consumer experience. The combination of SKYX\nand Deako provides a broad array of products to solve these complex and\nchallenging problems in the home with innovation, simplicity, and safety in\nmind. Going forward, the combined companies will work in tandem with the large\ntechnology/AI providers to capitalize on the tsunami of innovation coming to\nthe intelligent home experience.”\n\nSteve Schmidt, President of SKYX and former CEO of A.C. Nielsen, said: “We\nare excited about the SKYX Deako merger. I strongly believe that our combined\nplug & play platform technologies with vast electronic real estate and endless\nofferings including home safety sensors, smart home sensors, AI intelligence\nand much more will be game-changing for the smart home, building and hotel\nindustries. Working with Rani for many years, I would emphasize that this\nmerger and its growth potential really demonstrate how Rani’s vision, and\nbusiness acumen are as unique as his inventing capabilities.”\n\nDerek Richardson, CEO and Founder of Deako Inc., said: “We are very excited\nfor our merger with SKYX and its game-changing platform technologies,\nincluding its all-in-one smart home and AI platform technology, as well as its\nplug & play ceiling outlet receptacle platform that was voted by ANSI / NEMA\nand NFPA – NEC based on its significant safety aspects. The smart home is\nwon or lost at the moment a house is being built — that's why we built Deako\nfor the builder channel first. As the intelligent home emerges, the electronic\nreal estate inside a house becomes critical infrastructure, and the ceiling\nand the wall are everything. Joining SKYX pairs what we've built at the wall\nwith what they've built at the ceiling that maximizes performance of smart\nhome products and gives builders one complete, plug-and-play solution instead\nof a collection of parts.\"\n\nRani Kohen, Founder and Executive Chairman of SKYX Platforms, said: We are\nvery excited for our merger with Deako and its team members. We strongly\nbelieve that the SKYX Deako combined platform technologies, patent portfolio,\nand collective teams, will significantly grow our market penetration in the\nbuilder, hotel and pro market and will offer future additional recuring\nrevenue opportunities from plug & play product upgrades, AI services,\nmonitoring, subscriptions, licensing, among others. The SKYX-Deako merger and\nits terms provide tremendous value validation of our technologies, including\nour vast global patent portfolio and our safety-related building code\napprovals by NFPA-NEC and ANSI/NEMA, while also delivering significant value\nto our shareholders.\n\nFor more information about Deako: Click Here\n(https://www.globenewswire.com/Tracker?data=CXkjY1zRMs9CBi_2eWT-9ESH7ZTfEUEuXnKErOE6_uf4qG1SsPuesvP5OWZRF17IVg8gPr24M-ItN8Pag2UeSA==)\n\nFor a video demo of SKYX’s technologies: Click Here\n(https://www.globenewswire.com/Tracker?data=CXkjY1zRMs9CBi_2eWT-9AGzuXfLcRiU71PtuwRFk4Y3lyXo9NIvKfzygu6cdxR_OVppvH2L7zvvLjqbVIcgRiLsCYMw3YiDbuQ5Bo2ChpYb7ua7Y1_PKq4i2NmHf3HzrhuZbLM3U5XFQr_EZlB_kWcbdDy5Kj7dguGJB2oEArg=)\n\n\n\nDial In Information\n\nParticipating Management\n\nSKYX Representatives\nDeako Representatives\n\nConference Call and Webcast Details\n\nDate: Thursday, September 10, 2026\nTime: 8:30 a.m. Eastern Time\nU.S. dial-in: 1-877-407-0792\nInternational dial-in: 1-201-689-8263\nWebcast: https://viavid.webcasts.com/starthere.jsp?ei=1775971&tp_key=18e7862478\n\nParticipants should connect approximately 10 minutes before the scheduled\nstart Participant Listening: 1-877-407-0792 or 1-201-689-8263\n\nCall me™: \n\nhttps://callme.viavid.com/viavid/?callme=true&passcode=13760591&h=true&info=company&r=true&B=6\n- Participants can use Guest dial-in #s above and be answered by an operator\nOR click the Call me™ link for instant telephone access to the event.\n- Call me™ link will be made active 15 minutes prior to scheduled start\ntime.\n\nTelephone replay\n\nA telephone replay will be available approximately three hours after the call\nthrough October 10, 2026, at 11:59 p.m. Eastern Time.\n\nU.S. replay dial-in: 1-844-512-2921\nInternational replay dial-in: 1-412-317-6671\nReplay access ID: 13762632\n\nAbout SKYX Platforms Corp.\n\nAs electricity is a standard in every home and building, our mission is to\nmake homes and buildings become safe-advanced and smart as the new standard.\nSKYX has a series of highly disruptive advanced, safe, smart and AI platform\ntechnologies, with over 100 U.S. and global patents and patent pending\napplications. Additionally, the Company owns 60 lighting and home décor\nwebsites for both retail and commercial segments. Our technologies place an\nemphasis on high quality and ease of use, while significantly enhancing both\nsafety and lifestyle in homes and buildings. We believe that our products are\na necessity in every room in both homes and other buildings in the U.S. and\nglobally. For more information, please visit our website\nat https://www.skyx.com/ or follow us on LinkedIn\n(https://www.globenewswire.com/Tracker?data=eJOe44vFKtlnWyv8HGQcKRxAmaCQL3Tsfr1ArfOjYq4aNVRVzPcILAAfRFjfO9_vU3zjtq6kZ5BlCKuUwiqou3nz2O7b6Do16khJXiCA6z1Q13gfrTciHZMk6DBeB_oeQu1d_VmTTONIWULqf6mYTA==).\n\nForward-Looking Statements\n\nCertain statements made in this press release are not based on historical\nfacts, but are forward-looking statements. These statements can be identified\nby the use of forward-looking terminology such as “aim,” “anticipate,”\n“believe,” “can,” “could,” “continue,” “estimate,”\n“expect,” “evaluate,” “forecast,” “guidance,” “intend,”\n“likely,” “may,” “might,” “objective,” “ongoing,”\n“outlook,” “plan,” “potential,” “predict,” “probable,”\n“project,” “seek,” “should,” “target” “view,” “will,”\nor “would,” or the negative thereof or other variations thereon or\ncomparable terminology, although not all forward-looking statements contain\nthese words. These statements reflect the Company’s reasonable judgment with\nrespect to future events and are subject to risks, uncertainties and other\nfactors, many of which have outcomes difficult to predict and may be outside\nour control, that could cause actual results or outcomes to differ materially\nfrom those in the forward-looking statements. Such risks and statements\ninclude, but are not limited to, risks relating to the merger, including risks\narising from the diversion of management’s attention from the Company’s\nongoing business operations, an increase in the amount of costs, fees and\nexpenses and other charges related to the merger agreement or the merger, the\noutcome of any litigation that the Company or Deako may become subject to\nrelating to the merger, the extent of, and the time necessary to obtain, any\nregulatory approvals that may be required for completion of the merger, risks\nof disruption to the Company’s business as a result of the public\nannouncement of the merger, the occurrence of any event, change or other\ncircumstance that could give rise to the termination of the merger agreement\nor other agreements relating to the merger, an inability to complete the\nmerger in a timely manner or at all, including due to a failure of any\ncondition to the closing of the merger to be satisfied or waived by the\napplicable party, a decline in the market price for the Company’s common\nstock if the merger is not completed, risks that the merger disrupts current\nplans and operations of the Company or Deako and potential difficulties in\nCompany or Deako employee retention as a result of the merger, the Company’s\nability to pay the interest and principal on the promissory notes to be issued\nin connection with the merger, and the ability to implement business plans,\nforecasts and other expectations after the completion of the merger, realize\nthe intended benefits of the merger, and identify and realize additional\nopportunities following the merger. Such risks and uncertainties also include\nstatements relating to the Company’s ability to successfully launch,\ncommercialize, develop additional features and achieve market acceptance of\nits products and technologies and integrate its products and technologies with\nthird-party platforms or technologies; the Company’s ability to expand its\nmarket presence and control the market following the merger with Deako; the\nCompany’s ability to achieve positive cash flows; the Company’s efforts\nand ability to drive the adoption of its products and technologies as a\nstandard feature, including their use in homes, hotels, offices and cruise\nships; the Company’s ability to capture market share; the Company’s\nestimates of its potential addressable market and demand for its products and\ntechnologies; the Company’s ability to raise additional capital to support\nits operations as needed, which may not be available on acceptable terms or at\nall; the Company’s ability to continue as a going concern; the Company’s\nability to execute on any sales and licensing or other strategic\nopportunities; the possibility that any of the Company’s products will\nbecome National Electrical Code (NEC)-code or otherwise code mandatory in any\njurisdiction, or that any of the Company’s current or future products or\ntechnologies will be adopted by any state, country, or municipality, within\nany specific timeframe or at all; risks arising from mergers, acquisitions,\njoint ventures and other collaborations; the Company’s ability to attract\nand retain key executives and qualified personnel; guidance provided by\nmanagement, which may differ from the Company’s actual operating results;\nthe potential impact of unstable market and economic conditions on the\nCompany’s business, financial condition, and stock price; and other risks\nand uncertainties described in the Company’s filings with the Securities and\nExchange Commission, including its periodic reports on Form 10-K and Form\n10-Q. There can be no assurance as to any of the foregoing matters. Any\nforward-looking statement speaks only as of the date of this press release,\nand the Company undertakes no obligation to update or revise any\nforward-looking statements, whether as a result of new information, future\nevents or otherwise, except as required by U.S. federal securities laws. \n\nInvestor Relations Contacts:\n\nJeff Ramson\nPCG Advisory\njramson@pcgadvisory.com\n\nRonald A. Both\nEncore Investor Relations\nrb@encore-ir.com\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/035fa895-2b5b-4bec-a3ee-faf9e5904c61\n\n \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/a9ed8146-cd90-4e8c-9d3a-8d0fa2b56607)\nSKYX Signs Merger with Leading U.S. AI Smart Home Silicon Valley Backed\nCompany Deako \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/035fa895-2b5b-4bec-a3ee-faf9e5904c61/en)\nSKYX signed a merger agreement with U.S. AI smart home Silicon Valley backed\ncompany Deako Inc.\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-10T11:31:25.192886926Z","server_sent_at_ms":1789039885192},"received_at":"2026-09-10T11:31:25.363Z","source_url":"https://www.globenewswire.com/news-release/2026/09/10/3359398/0/en/skyx-signs-merger-with-leading-u-s-ai-smart-home-silicon-valley-backed-company-deako-aiming-to-lead-the-smart-home-builder-hotel-markets-with-their-combined-platform-technologies.html"},"analysis":{"id":"129071","press_release_id":"140233","analysis_json":{"industry":{"label":"Technology Hardware, Storage & Peripherals","sector":"Information Technology"},"redFlags":["All-stock consideration dilutes existing SKYX holders by 18.46% (25M new shares)","SKYX assumes $4M cash payment plus an $8.5M promissory note to Deako's lender payable through Q4 2027","Merger remains subject to regulatory approvals and closing conditions; termination risk disclosed","Deako profitability not disclosed — only revenue and unit shipments given","SKYX boilerplate risk language references ability to raise additional capital and continue as a going concern"],"eventType":"m_and_a","narrative":"SKYX Platforms signed a merger agreement to acquire Deako Inc., a Silicon Valley-backed AI smart home lighting company, in an all-stock deal that will see SKYX issue 25,000,000 shares equal to 18.46% of the company, subject to a lockup/leak-out structure.\n\nDeako shipped over 32 million units of its smart plug-in wall switches over the past five years and generated over $26 million in revenue in 2025, supplying more than 50 U.S. builders including D.R. 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