Smart locks may still be a niche product, but lock behemoth Assa Abloy is clearly betting on a digital future for our doors. Despite being sued by the US Department of Justice for trying to buy too many smart lock manufacturers, the Swedish-based company just bought another one: sleek smart lock maker Level Lock.
According to the DOJ, owning Kwikset and Baldwin, as well as Yale and August, was too many lock makers for one company: “The proposed transaction would transform these markets, giving Assa Abloy a near-monopoly in premium mechanical door hardware and more than a 50 percent share in smart locks, leaving only one significant competitor.” That competitor being Schlage, which is owned by Allegion. While it complied, just a year later, Assa Abloy has snapped up another smart lock startup in Level.