A highly disruptive platform technology company with over 60 issued and pending patents globally with a mission to make homes and buildings become safe and smart as the new standard, announced today that it has acquired Bailey Street Home, a $5 million revenue, profitable, strategic e-commerce private label lighting website.
SKYX has paid $225,000 in cash for 50% of the e-commerce lighting website company, while the other 50% is owned by Belami, Inc., the strategic e-commerce company that SKYX has already signed an agreement to acquire. The $5 million in 2022 annual revenues from the e-commerce private label brand is in addition to the $86 million in 2022 annual revenues from Belami.
The acquisition of this strategic e-commerce lighting website company will serve as another marketing and growth platform for SKYX, providing additional distribution to both professional and retail channels for SKYX’s revolutionary Plug & Play technology for lighting and ceiling fan installations.
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “This strategic e-commerce website acquisition represents yet another marketing and educational platform for both professionals and retail customers – educating them on the lifesaving, cost saving, time saving and advanced smart benefits of our products.News Source: Yahoo Finance