GE to sell its 129-year-old lightbulb business founded by Thomas Edison

General Electric has announced that it is going to sell its 129-year-old lightbulb business founded by Thomas Edison to smart home company Savant Systems. The deal is expected to close by mid-2020 which will see Savant take the unit's 700 employees onboard. GE was formed when Edison merged his company, Edison General Electric Company, with Thomson-Houston Electric Company in 1892.