In addition to owning more private real estate in Britain than the Queen herself, Sir James Dyson can now add his son Jake Dyson's lighting company to his expanding list of assets. The vacuum magnate just announced plans to acquire his son's LED solutions company, securing the future of the brand as a family-owned business.
Having grown up closely connected to the Dyson brand, Jake Dyson became a pioneer in his own right after harnessing the power of cooling pipes to develop the CSYS LED task lamp that can supposedly provide 50 years of continuous illumination using a single LED bulb.
Now, Jake plans to refocus his innovative spirit gleaned from the last 10 years on his own and fold it into the main Dyson brand. According to an interview with The Financial Times, Sir James told reporters that the lighting business will retain the Jake Dyson brand name, but will tap into Dyson's manufacturing arm in southeast Asia to produce the line.
The acquisition of Jake Dyson Products fits neatly into the company's four-year plan to expand the product line into. In , Dyson set aside $1.56 billion for future product research and development, some of which we've already seen, including a , an and an .
Most recently, the company investedto continue research in solid-state batteries.