Smart lock manufacturer loses its founders and undergoes restructuring following acquisition by the Swedish group.
The Swedish group Assa Abloy has restructured smart lock manufacturer Level Home, laying off the majority of the company's team. The move includes the departure of the startup's founders, as the company will be absorbed into the Kwikset brand, which is also controlled by Assa Abloy.
According to The Verge, the information was obtained from a source familiar with the process. The decision marks a significant shift for Level, a company known for developing automation technology built into traditional locks.
The integration into Kwikset suggests a move to consolidate smart lock operations within Assa Abloy's portfolio. The restructuring takes place as Level is integrated into the Swedish group, one of the world's largest manufacturers of security solutions.
This outcome represents a significant development for the home automation sector, impacting the continuity of Level's operations as an independent brand in the connected device market.
Assa Abloy restructured Level Home, laying off the majority of its team. The startup's founders departed, and the company was absorbed into the Kwikset brand, which is also controlled by Assa Abloy.
The integration into Kwikset is part of Assa Abloy's strategy to consolidate its smart lock operations and streamline its portfolio of security solutions.
No, the restructuring and integration into Kwikset mark the end of Level Home's operations as an independent brand in the connected home device market.