ASSA ABLOY, owner of Yale locks, has announced that it is the final stages of acquiring competing smart lock manufacturer, August Home.
ASSA ABLOY and Yale Locks have long watched August Home grow and affirm its place in the DIY security space and has decided 'if you can’t beat them, buy them.' It is expected to finalise its purchase of the smart home specialist in the coming months following on from regulatory approval and standard closing conditions.
August Home’s currently product line comprises of has three generations of smart door locks and two generations of video doorbells, renowned for incorporating its ‘DoorSense’ technology for recognising whether a door is open or closed.
Although boasting a slick exterior, Yale’s offerings have often lacked the interoperability and functionality to match the interface, so fingers crossed the industry stalwart can bring some innovation to the marketplace with the move.
Financial terms of the agreement have not been disclosed.