Smart lock company, August Home, has just been acquired by Yale's parent company, ASSA ABLOY. The company announced in a short press release this week, that it is purchasing August Home but did not mention much in terms of the deal. So it's unclear how much ASSA ABLOY is spending to acquire August Home. The president and CEO of ASSA ABLOY, Johan Molin, stated that he is "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."
Currently, Yale isn't a big name in the world of smart locks, but August Home is (as well as Kwikset). And with the purchase of August Home, Yale and its parent company ASSA ABLOY Group, will definitely make a big play to get into the smart lock market. August Home actually just debuted a few different products, which are now up for purchase, like the August Doorbell Cam Pro, Smart Lock and Smart Lock Pro. The Smart Lock is actually August's third-generation smart lock, and it's been a big seller for the company, since it's super easy to install and use. The Doorbell Cam Pro isn't a smart door lock, but it is in another area where ASSA ABLOY Group will want to venture into, since other players are jumping into the doorbell realm now, including Nest.
At this time, it appears that August Home will continue to sell its products the way it always has, through its own website and some other retailers like Amazon. ASSA ABLOY Group has not made any mention about what will change once the deal goes through. It did, however mention in its press release that the deal is subject to regulatory approval and should close within the four quarter of this year, which doesn't give them much time to close the deal, considering the quarter is already about a month over with. This is going to be an interesting acquisition and it'll be interesting to see how August Home continues after this deal is made final in the coming months.