[CCTV NEWS=Donghoon Shin] ASSA ABLOY has signed an agreement to acquire August Home, 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 tech entrepreneur Jason Johnson and industrial designer Yves Behar, August Home has developed three generations of smart door locks and two generations of digital 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."
ASSA ABLOY’s acquisition is subject to regulatory approval and customary closing conditions. The acquisition is expected during Q4 2017. Financial terms of the agreement are not being disclosed.