On Thursday, Swedish lock giant Assa Abloy announced that they had purchased their American-based smart lock competitor, August Home. This represents the latest brand in the field that they have brought under their control. Meanwhile, the struggling theme and marine zoological park SeaWorld announced on Wednesday that they were cutting a number of positions across their locations. They are doing so in order to put money into other areas.

Assa Abloy locks up competitor August Home

Assa Abloy, which is a $23 billion company that already owns a number of other brands like Yale, bought August Home in order to double down on new lock technology.

TechCrunch reported that terms of the deal have not been disclosed. Pending regulatory approval, Assa Abloy says that the acquisition will close in the fourth quarter of 2017.

August Home confirmed to TechCrunch that CEO and co-founder, Jason Johnson, would remain in his role with the company, as will co-founder Yves Behar. They also said that the company will keep its branding and operate under Assa Abloy's American division.

August Home was founded in 2013 and employs about 90 people. In contrast, Assa Abloy has been around, in some form, since 1884 and has around 47,000 employees. Currently, August Home's revenue for next year is projected at $60 million, which is about 0.75 percent of the Swedish giant's current business.

Future projections of the long-term benefit of acquiring August Home vary widely for Assa Abloy. August Home has only just emerged as a leader in connected security space due to their smart doorbells and home locks. Allied Market Research puts the future value of the smart lock market at $1.17 billion by 2023. Meanwhile, Grand View Research has it at a staggering $24 billion by 2024.

SeaWorld layoffs make waves as struggles continue

SeaWorld announced that it would be laying off 350 employees that will primarily affect its two parks in Orlando and San Antonio, as well as their corporate headquarters. According to the Orlando Sentinel, spokeswoman Aimme Jeansonne-Becka said that these layoffs will mostly affect administrative positions, and other jobs that do not deal directly with the public.

Jeansonne-Becka also emphasized that SeaWorld is still dedicated to animal rescue and rehabilitation, which was not impacted as part of the layoffs. Those who were let go will receive severance pay and get help finding new work. The company plans to use the money saved from the layoffs on new rides and advertising in an attempt to boost declining attendance.
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