After the 130-year history of light bulb production, American multinational conglomerate, General Electric will no longer produce and trade lightbulbs. GE’s light manufacturing unit, GE lighting is acquired by Massachusetts-based smart home company Savant Systems.
Founded in 1892 as a merger between a business competitor and Thomas Edison’s Edison General Electric Co., which created Edison’s famous incandescent bulb as well as other inventions, and
During the 20th century, GE continued producing lightbulbs and carried on Edison’s culture of experimentation and innovation by perfecting the fluorescent bulb, halogen bulb and LED, among separate lighting innovations.
Recently GE announced proposals to depart from its lighting business, which is only a small portion of the contemporary company. GE may be best remembered to the public for its lightbulbs and appliances, but the massive conglomerate generates a significant portion of its revenue as a lender, defense contractor and producer of everything from jet engines and wind turbines to X-ray machines and ventilators.
BIG news #AVtweeps! Savant to acquire @GELighting, the #1 North American lighting company and one of the most trusted brands in the world. Combined with Savant’s professional smart home solutions, GE Lighting & Savant create a powerhouse of trusted and recognizable brands. pic.twitter.com/xsvaSU547B
— Savant Home (@SavantHome) May 27, 2020
As for GE, the sale is a component of its broader shift in focus off from consumer products. “Today’s transaction is another important step in the transformation of GE into a more focused industrial company,” GE CEO H. Lawrence Culp, Jr. said in a release. “Our GE Lighting colleagues will join a fast-growing leader in home automation that shares their passion for bringing the future to light.”
Financial details have not been revealed.
