Dixon Technologies (India) said that it has entered into the smart lighting technologies with Ibahn where Ibhan agreed to transfer all of its advanced cutting-edge technologies with Dixon Technologies.

Dixon Technologies said that the technologies transferred by Ibahn pertaining to BLE Mesh Smart Lighting (app, firmware, hardware, and cloud-hosted database) work Wifi-based smart lightning.

Bluetooth Mesh is a computer-based standard that provides Bluetooth Low Energy (BLE) that works on low energy consumption.

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 the lighting business.

Globally the market for smart lighting is huge and Dixon wants to gear up for this requirement.

The company says it's confident enough that this step of buying the technology of the lightning business will surely help to move ahead in terms of providing the smart lighting solution.

Dixon Technologies (India) is the largest home-grown design-focused 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 a 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 trading 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.