10.20.17
ASSA ABLOY has signed an agreement to acquire August Home, a leading smart lock business in the US.
“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,” added Thanasis Molokotos, EVP of ASSA ABLOY and head of the Americas Division.
August was founded in 2013. It is headquartered in San Francisco, CA and has approximately 90 employees. Sales for 2018 are expected to reach around $60 million (approximately SEK 500 million).
The acquisition is conditional upon regulatory approval and is expected to close during the fourth quarter of 2017.
“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,” added Thanasis Molokotos, EVP of ASSA ABLOY and head of the Americas Division.
August was founded in 2013. It is headquartered in San Francisco, CA and has approximately 90 employees. Sales for 2018 are expected to reach around $60 million (approximately SEK 500 million).
The acquisition is conditional upon regulatory approval and is expected to close during the fourth quarter of 2017.