ASSA ABLOY Bids to Acquire August Home
Recognizing the growth of the smart lock and doorbell market, ASSA ABLOY has signed an agreement to buy August Home.
ASSA ABLOY has signed an agreement to acquire San Francisco-based August Home, provider of smart-home access products and services like smart locks and doorbell cameras with a primary focus on the DIY channel.
August's smart locks now feature its DoorSense technology, which is an intelligent integrated sensor that tells users if their door is open or closed.
“August Home strengthens our residential smart door strategy with complementary smart locks, expansion into video doorbells and comprehensive solutions for home delivery,” says Thanasis Molokotos, executive vice president of ASSA ABLOY and Head of the Americas division.
Founded by Jason Johnson and Yves Behar, August Home has developed three generations of smart door locks and two generations of video doorbells, making the company among the industry leaders in technology, partnerships and retail sales.
“August has created a fantastic consumer experience through differentiated features and software,” notes Molokotos. “We look forward to the opportunity to draw from the 180 years of cumulative experience of the Yale team plus the technology expertise of the August team to create the future of smart residential doors.”
Johnson adds the acquistion will complement ASSA ABLOY's Yale Lock brand and its products, which include a selection of smart lock products.
“We have always admired the design and quality of Yale Locks,” states Johnson. “This is a great opportunity for us to work with the world’s largest lock and access company."
ASSA ABLOY’s acquisition is subject to regulatory approval and customary closing conditions. The acquisition is expected to be completed during the fourth quarter (Q4) of 2017. Financial terms of the agreement are not being disclosed.
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