Finance

Assa Abloy Seals Deal for August Home

Smart lock maker counted Comcast as investor, is integrated with Xfinity Home 12/07/2017 6:38 PM Eastern

Assa Abloy this week wrapped up its acquisition of August Home, a maker of smart locks and doorbells and other smart home provides and services.

Financial terms of the deal, announced in October, were not disclosed.

Assa Abloy, a maker of door opening products, including mechanical and electromechanical locking and entrance automation technology, has about 47,000 employees. The deal for August will strengthen its move into the residential smart door sector, the company said.

Assa Abloy has already been working to bring August’s Access technology (used for remote access to its smart locks) to its Yale lock platforms, and has plans for further product integrations and international channel expansion for August’s products.

Founded in 2012, by Jason Johnson and designer Yves Béhar, August has a relationship with Comcast. Its Comcast Ventures unit participated in August’s $38 million “B” round in 2015. Following a more recent $25 million “C” round, August has raised a total of $73 million, according to CrunchBase.

August’s smart locks have also been integrated with Xfinity Home, Comcast's security/smart home service.

RELATED: Comcast V.C. Backs Smart Lock Startup

Johnson, August’s former CEO, is staying with the company.

“What the August team built in delivery, doorbells and smart locks really complements what the Yale Residential team built in connected locks and digital door viewers,” Martin Huddart, managing director of Assa Abloy Americas’s US & Canadian Residential and August Group, said in a statement.

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