General Electric is getting out of the business of making lightbulbs, selling a unit that defined the company for nearly a century and was its last direct link to consumers
General Electric Co. is getting out of the business of making lightbulbs, selling a unit that defined the company for nearly a century and was its last direct link to consumers.
GE said it would sell its lighting business to Savant Systems Inc., a seller of home-automation technology. Terms of the deal weren’t disclosed, but the transaction valued the unit at around $250 million, according to a person familiar with the matter.
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