Dixon enters into binding term sheet with Ibahn Illumination Pvt Ltd

Dixon has entered into binding Term Sheet with Ibahn Illumination Private Limited ('Ibahn') whereby Ibahn has agreed to transfer its cutting edge Technologies of smart lighting solutions. The Technology proposed to be transferred shall include the technology developed by Ibahn pertaining to BLE Mesh Smart Lighting (App, Firmware, Hardware, and Cloud Hosted Database) that provides consumers with a wide range of combination & control as well as work-in-progress technology pertaining to WiFi based technology solutions for its lighting products. Bluetooth Mesh is a computer mesh network standard based on Bluetooth Low Energy (BLE), a wireless personal area network technology designed to provide low-cost & low energy consumption connectivity. The transaction shall be consummated upon execution of all the necessary Definitive agreements as per the Term Sheet.

Commenting on this occasion, Mr Atul B. Lall, Vice Chairman & Managing Director of Dixon Technologies stated, "We are thrilled to buy the smart lighting solutions from Ibahn to offer the best of lighting & technology to our customers in lighting business. Globally the market for smart lighting is large & Dixon wants to be gear up & be ahead on technology front. I am confident that this addition of smart lighting solutions to the existing technology & R&D base of the Company shall prove to be an important milestone in our journey of continuous innovation in our Lighting business."

Source : Equity Bulls

Keywords

Dixon IbahnIllumination SmartLightingSolutions CuttingEdgeTechnologies