• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

3

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

3

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Techaugust home

A Swedish Lock Giant Just Bought August Home for Its Smart Locks

By
Jonathan Vanian
Jonathan Vanian
Down Arrow Button Icon
By
Jonathan Vanian
Jonathan Vanian
Down Arrow Button Icon
October 19, 2017, 6:45 PM ET
August Smart Lock Pro siler with Connect Keypad
August Smart Lock Pro siler with Connect KeypadAugust

August Home has found someone who wants a lot of its pricey Internet-connected locks, but it’s not your typical homeowner.

Swedish business giant Assa Abloy, known for making popular door locks like the Yale lock, said Thursday that bought the San Francisco based August for an undisclosed amount.

Assa Abloy executive vice president Thanasis Molokotos said in a statement that the deal “strengthens our residential smart door strategy with complementary smart locks, expansion into video doorbells and comprehensive solutions for home delivery.”

For August, the deal symbolizes the end of its efforts as a Silicon Valley upstart aiming to disrupt bigger companies with its lineup of web-connected door locks that can be remote-controlled from a smartphone app.

Get Data Sheet, Fortune’s technology newsletter.

The company raised a total of $100 million since its 2012 founding, according to the deal-tracking service PitchBook.

August raised $25 million in July to help fund its recent launch of new, cheaper August Smart Lock Pro locks intended to make the high-tech gadgets more appealing to mainstream consumers, said August CEO Jason Johnson in September.

Now in the arms of a bigger company, August will get more direct help to sell its products to the masses, the tradeoff being that it loses its independence as a more nimble startup. The acquisition also highlights the challenges consumer hardware startups face creating big-hit products that result in big enough sales to help them compete with much larger businesses.

Johnson said in a statement that he is “committed to working with ASSA ABLOY to see the vision materialize over the next few years.”

About the Author
By Jonathan Vanian
LinkedIn iconTwitter icon

Jonathan Vanian is a former Fortune reporter. He covered business technology, cybersecurity, artificial intelligence, data privacy, and other topics.

See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

SpaceX’s third-generation Starship, which NASA may use to put astronauts on the moon, makes debut in test flight ahead of blockbuster IPO
InnovationSpaceX
SpaceX’s third-generation Starship, which NASA may use to put astronauts on the moon, makes debut in test flight ahead of blockbuster IPO
By Marcia Dunn and The Associated PressMay 23, 2026
3 minutes ago
Is a college degree still worth it? Here are 3 things it can teach you that AI can’t do
Future of WorkColleges and Universities
Is a college degree still worth it? Here are 3 things it can teach you that AI can’t do
By Jake AngeloMay 23, 2026
1 hour ago
Ashley Yetman
Commentarydisruption
Everyone is blaming AI for the death of ‘craft.’ Take a good look in the mirror
By Ashley YetmanMay 23, 2026
3 hours ago
Josh Smith, founder of Montana Knife Company.
SuccessEntrepreneurs
This 39-year-old quit his lineman job during the pandemic and built a $50 million company in his backyard
By Nick LichtenbergMay 23, 2026
3 hours ago
Jon McNeill
SuccessCareers
Former Tesla president shares the secret to success he learned from his former boss, Elon Musk: ‘He demands to only work with world-class talent’
By Preston ForeMay 23, 2026
5 hours ago
clay
CommentaryLoneliness
I’ve spent 25 years studying loneliness. AI is about to make it much worse
By Clay RoutledgeMay 23, 2026
5 hours ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
2 days ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
23 hours ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
3 days ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
22 hours ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
4 days ago
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
Success
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
By Preston ForeMay 22, 2026
24 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.