secwatch.observer — SEC 8-K summary
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Issuer:     Fortune Brands Innovations, Inc. (FBIN)
CIK:        0001519751
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0001193125-23-173885
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortune Brands Innovations completes $800M acquisition of Emtek, Yale and August businesses from ASSA ABLOY
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- Acquired Emtek/Schaub premium hardware and US/Canada Yale/August smart locks for $800M cash on debt-free basis.
- Transaction closed June 20, 2023, per Stock Purchase Agreement dated December 1, 2022.
- ASSA ABLOY to provide transition services for an initial 12-month period.
- Company receives perpetual non-exclusive patent license and exclusive 'Yale Access' software license in US/Canada.
- Fortune Brands grants ASSA ABLOY a perpetual non-exclusive license for certain smart lock patents in commercial lock business.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1519751/000119312523173885/0001193125-23-173885-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1519751/000119312523173885/d442345d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-173885

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer