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 wi-fi 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, Dixon said.

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.”

Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India.

The company reported a 151.7% surge in consolidated net profit to Rs 45.70 crore on 52.9% jump in net sales to Rs 2,855.07 crore in Q1 FY23 over Q1 FY22.

The scrip shed 0.64% to currently trade at Rs 4420.45 on the BSE.

In the past three months, the stock has advanced 31.74% while the benchmark Sensex has added 15.28% during the same period.