ASSA ABLOY has signed an agreement to acquire August Home
New Haven, CT, October 19, 2017 – ASSA ABLOY has signed an agreement to acquire August Home, a leading smart lock business in the US.
August Home is a leading provider of smart locks for smart home access products and services. With primary focus on the DIY channel, August offers smart locks, which now feature DoorSense™, the first 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,” says Thanasis Molokotos, Executive Vice President of ASSA ABLOY and Head of the Americas division.
Based in San Francisco, California, 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,” states 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.”
“We have always admired the design and quality of Yale locks,” said Jason Johnson, CEO of August, “This is a great opportunity for us to work with the world’s largest lock and access company and I am committed to working with ASSA ABLOY to see the vision materialize over the next few years.”
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.
About August Home, Inc.
At August Home we are all about secure, smart access. Our products and services give consumers total control over the front door from a smartphone. Ranked number three on the Wall Street Journal’s 25 Top Tech Companies to Watch, August is headquartered in San Francisco, California.
About ASSA ABLOY
ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end user needs for security, safety and convenience. 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. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.