Announced back in October, the acquisition deal between Swedish lock maker Assa Abloy and smart home company August Home was officially finalized.
August’s daily operations and staff positions won’t have big changes. And of course, August will be integrated into Assa Abloy’s broad range of locks.
Assa Abloy currently has hundreds of brands under its arm but leaves most of them to operate independently. “That means that our team can continue running August and really nothing changes. We just went from having 40 investors to having one investor,” said Jason Johnson, CEO of August Home, to media outlet TechCrunch.
However, what’s going to change is that August now has a great chance to enter international markets. Owning brands such as Unilock, Keylock, Arrow, Yale and Mul-T-Lock, Assa Abloy has established international distribution channels around the world. Until now, August only sells its products in North America. In the future, it may expand internationally more easily thanks to the acquisition.
August first attracted Assa Abloy’s attention due to the August Access program, which offers easier entry to the house by third-party service providers. For example, a partnership with Walmart allows groceries and packages to be delivered directly to a consumer’s home.
“As we learned more about August, we became aware of the complementary strengths they had relative to Yale, which is also an active player in the connected home,” said Thanasis Molokotos, EVP and head of Americas at Assa Abloy, in an interview with VentureBeat. Yale positions itself more as a professionally-installed smart lock brand, while August focuses on the DIY market.
In addition, the August can offer the video doorbell technology and has a strong software engineering team. “While the talent spans across many disciplines, their software capabilities in particular were important to us as a lock company,” said Molokotos.
Well known for its smart locks, August debuted smart doorbell Doorbell Cam Pro and new features DoorSense and HindSight in September. It also cut down the price of its smart lock from US$229 to US$149.
August Home has also established its presence with partners across industries. For example, retail giant Wal-Mart is testing out an in-home delivery service with August’s smart locks; apartment-rental service Airbnb counts August as its smart hosting service provider. There is also collaboration with Amazon, Apple, Google, HomeAway and Nest.