ASSA ABLOY to Acquire August Home - ResidentialSystems.com

ASSA ABLOY to Acquire August Home

The World’s Largest Lock and Access Company and Parent company to Consumer Brand Yale Locks, has Signed an Acquisition Agreement
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August Home's Doorbell Cam and Smart Keypad 
ASSA ABLOY has signed an agreement to acquire U.S. smart lock manufacturer August Home.

With primary focus on the DIY channel, August Home offers smart locks, which now feature DoorSense, an intelligent integrated sensor that tells users if their door is open or closed, and doorbell cameras.

“August Home strengthens our residential smart door strategy with complementary smart locks, expansion into video doorbells, and comprehensive solutions for home delivery,” said Thanasis Molokotos, executive vice president of ASSA ABLOY and head of the Americas division.

Based in San Francisco, CA, and founded by Jason Johnson and Yves Behar, August Home has developed three generations of smart door locks and two generations of video doorbells.

“August has created a fantastic consumer experience through differentiated features and software,” Molokotos said. “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.”

“We have always admired the design and quality of Yale locks,” added Jason Johnson, CEO of August, “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 Q4 2017. Financial terms of the agreement are not being disclosed.

Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 47,000 employees, operations in more than 70 countries and sales of SEK 71 billion. The Group includes access control, identification technology, entrance automation, and hotel security brands.



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