Assa Abloy Guts Smart Lock Maker Level, Founders Depart

Assa Abloy has laid off the majority of staff at Level Home, the smart lock company known for building smart tech into traditional-looking deadbolts, and is folding the business into Kwikset, according to a source familiar with the decision. The Verge obtained exclusive details from a person familiar with the restructuring who requested anonymity as they were part of the layoffs. They shared an audio recording of a meeting in which Peter Boriskin, CTO for Assa Abloy North America, and Kimberly Cummins, head of North American HR, informed the majority of the staff that their positions had been eliminated, effective immediately, as "a part of … The restructuring move appears to mark the end of Level Home as a standalone company.

The source familiar with the decision did not provide details on the reasons behind the layoffs and restructuring. The layoffs and restructuring have significant implications for the smart home industry, particularly in the area of smart locks. Level Home's products had been gaining traction among consumers looking for discreet and user-friendly smart lock solutions.

Why this matters: The demise of Level Home as an independent company raises questions about the competitive dynamics in the smart lock market. With Level Home's products being folded into Kwikset, Assa Abloy's portfolio of smart lock offerings is likely to expand, potentially making it a more formidable competitor to other players in the market. For developers and businesses, this may mean a shift in strategic partnerships and product development priorities.

For consumers, the change may lead to a more streamlined but potentially less diverse range of smart lock options. As the smart home industry continues to evolve, it remains to be seen how this restructuring will impact innovation and competition in the market.