Today ASSA ABLOY has announced that it has signed an agreement to acquire San Francisco based August Home.
“August Home strengthens our residential smart door strategy with complementary smart locks, expansion into video doorbells and comprehensive solutions for home delivery,” says Thanasis Molokotos, Executive Vice President of ASSA ABLOY and Head of the Americas division.
ASSA ABLOY’s acquisition is subject to regulatory approval and customary closing conditions. The acquisition is expected to be completed during Q4 2017. Financial terms of the agreement are not being disclosed.