Level Lock hardware business acquired by Assa Abloy
a week ago 25
Level Home announced today that Swedish manufacturer Assa Abloy has acquired its Level Lock smart lock business. Founded by former Apple employees in 2016, Level Home brought the first Level Lock–a retrofit deadbolt–to market in 2019 to rave reviews, including from TechHive.
This news is part of TechHive’s in-depth coverage of the best smart locks.
The company’s founders, John Martin (CEO) and Ken Goto (CTO) informed Level Lock owners in an email this afternoon that “Level Lock will operate as an independent brand and subsidiary” of the Swedish manufacturer, a global company focused on locks, doors, gates, and entrance automation. Martin and Goto also announced that they would be moving over to Assa Abloy, where they will “continue to lead the Level Lock business.”
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$349.00
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The email further informs Level Lock customers that “your services will not be interrupted, and you do not need to take any action at this time.” The note includes the email address for the Level Lock support team.
Level Home’s smart home platform for multi-dwelling units (MDUs—aka apartment buildings, duplexes, and similar rental properties), Level M, is not part of the acquisition and will be renamed Ambient. Level Home President Michael Rovito will become Ambient’s CEO.
An Assa Abloy press release quoted Assa Abloy Executive VP Lucas Boselli as saying “The acquisition of Level Lock complements Assa Abloy’s technology portfolio and strengthens our digital offering across multiple businesses in the Americas division.”
Terms of the deal were not disclosed. Assa Abloy sold its Yale and August smart lock businesses to Fortune Brands in a 2023 transaction valued at $800 million.
