Dixon enters into deal with Ibahn Illumination for advanced lighting technologyDIXON - 4375 Change: 0.30 (0.01 %)
Dixon has signed a binding term sheet with Ibahn Illumination, under which Ibahn has agreed to transfer its Bluetooth Low Energy (BLE) Mesh Smart Lighting technology solutions.
The BLE technology offers consumers a wide range of combination and control options as well as work-in-progress technology for WiFi-based lighting solutions. As of FY22, lighting products contribute 12% to Dixon's topline. While the domestic market for smart lighting is small as of now and is still in the growth stage, the global market for smart lighting products is growing significantly and is expected to reach $27.7 billion by 2026. This deal will strengthen backward integration of Dixon's light manufacturing capability thereby keeping it ahead of competition in terms of technology.