Savant Systems

Last updated
Savant Systems Inc.
Company type Private
IndustryHome automation
Founded2005
Headquarters,
United States
Number of employees
200 (2014) [1]
Divisions GE Lighting
Website www.savant.com

Savant Systems Inc. is a home automation company headquartered in Hyannis, Massachusetts, United States. [2] [3] The company was founded in 2005 and is privately held. [1] It has 200 employees at its headquarters and a further 700 through its subsidiary GE Lighting.

Savant Systems is the parent company of GE Lighting, which it bought from General Electric in May 2020. [4] Neither company disclosed the price but the Wall Street Journal reported that it was $250 million. [5] GE Lighting employs 700 people at the historic Nela Park in East Cleveland, Ohio. [5]

In 2014 the private equity company KKR invested $90 million in Savant Systems, valuing the company at $200 million at the time. [6]

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References

  1. 1 2 "With Savant's GE acquisition, the IoT once again drives the lighting industry". LEDs Magazine. 1 June 2020.
  2. "Savant Systems Buys GE Lighting". Institute of Electrical & Electronics Engineers. 22 June 2020.
  3. "Savant Systems LLC". Bloomberg.
  4. "High-end smart home brand Savant acquires GE Lighting". CNET. 27 May 2020.
  5. 1 2 "GE Exits Lightbulb Business It Pioneered". Wall Street Journal . 27 May 2020.
  6. "KKR invests in smart home tech company Savant Systems". Reuters. 4 September 2014.