August Home, the smart lock manufacturer, has officially been acquired by ASSA Abloy, the parent company of Yale.
ASSA Abloy is the world’s largest lock and access company, operating in more than 70 countries, and claims to have been a market leader since 1881. The company has been aggressively pursuing the smart lock market in recent years, and this appears to be the culmination of that.
“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.
August has quickly become one of the most popular smart locks available in the US, although customers have been left wondering when it’ll be available in other markets. ASSA Abloy’s global reach could finally make a global expansion of August a reality.
“I am very pleased to welcome August into the ASSA ABLOY Group. August constitutes a strategic addition to the Group and reinforces our position in the residential smart door market,” adds Johan Molin, President and CEO of ASSA ABLOY.
In addition to smart locks, August has been gradually expanding its smart home offering. The company now offers a smart doorbell, while its locks can now be controlled using HomeKit, Alexa and the Google Assistant.
ASSA Abloy is well-known in the smart lock arena. Yale already offers a line-up of products that work with Alexa and HomeKit, and unlike August, those products are available in markets around the world.
Financial terms of the acquisition have not been disclosed, and the deal is subject to regulatory approval, but the deal is expected close by the end of the year.