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Savant Systems To Buy GE Lighting; Terms Undisclosed

Savant Systems Inc. said that it agreed to buy GE Lighting, a division of General Electric Co (GE). Financial details of the transaction were not disclosed. The proposed transaction includes a long-term licensing agreement for use of the GE brand.

GE Lighting's portfolio includes home lighting and smart home solutions. GE Lighting will remain headquartered in Cleveland, Ohio, and its more than 700 employees will transfer to Savant upon completion of the deal.

The transaction is expected to close mid-2020.

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