ASSA ABLOY Acquires August Home

ASSA ABLOY Acquires August Home

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ASSA ABLOY, the world's largest lock manufacturer by sales volume, has acquired smart lock company August Home. ASSA ABLOY is the company behind brands such as Adams Rite, Rixson, Yale, and more.

"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,” says Johan Molin, President and CEO of ASSA ABLOY.

"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 was founded in 2013. It is headquartered in San Francisco, California and has approximately 90 employees. Sales for 2018 are expected to reach around USD 60 million (approx. SEK 500 million). The acquisition will be dilutive to EPS. The acquisition is conditional upon regulatory approval and is expected to close during the fourth quarter of 2017.

August makes numerous products that work with Apple HomeKit and Amazon Alexa including the August Smart Lock Pro, August Smart Lock, August Doorbell Cam Pro, August Doorbell Cam, and more.

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ASSA ABLOY Acquires August Home
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JuneJuly - October 20, 2017 at 10:02am
Hopefully that means they'll start selling the August devices in the UK without needing to import them.
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