ASSA Abloy, the Swedish lock conglomerate and owner of Yale, among other brands, buys into smart locks with August Home. Financial details of the deal are not available.
As the biggest lock and access company in the world, ASSA Abloy operates in over 70 countries. It claims it has been a market leader since 1881, and is currently looking to consolidate its position through buying further in the next big thing in locks, namely smart technology. After all it also owns Yale, maker of a number of HomeKit- and Alexa-compatible products.
Founded in 2013, August offers a popular smart lock range in the US, even but its products remain unavailable in other markets. It also dabbles in smart home through an Alexa- and HomeKit-compatible smart doorbell.
Post-acquisition August will operate as the ASSA Abloy Americas division with co-founder Jason Johnson as CEO of August Home. Yves Behar also retains his position as co-founder. The deal is set to be finalised in Q4 2017.
