The acquisition is the latest showcase of Amazon’s foray into the smart home sector. Reuters reports the deal topped $1 billion, although financial terms were not officially disclosed by the companies involved.
Amazon will likely go after some product integration while also maintaining the Ring brand and encouraging the company to keep functioning as it did before the acquisition.
The Santa Monica, California-based Ring is perhaps most well known for its line of Wi-Fi-enabled video doorbells and cameras that let users know who is at the door. Owners can use their tablets or smartphones to see live video and speak to the person at the door, even if the user is not at home.
“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our neighbors that make a positive impact on our homes, our communities, and the world,” a Ring spokesperson said in a statement. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.”
This acquisition is not the first time Amazon has expressed interest in positioning its line of Echo devices as a smart technology hub. In December, Amazon acquired Blink, a Massachusetts-based company that designs smart security cameras and video doorbells. Amazon also recently launched its own home security camera, the Cloud Cam, which is compatible with Amazon Key and smart locks to give users the ability to allow people access to their homes even if they’re not at home themselves. The Cloud Cam sells on its own for $140, but users also have the option to purchase the Amazon Key In-Home Kit, which includes a Cloud Cam and smart lock for $250.
Amazon has also invested in Ring before via the Alexa Fund, a venture capital funding initiative that aims to help companies build skills for Amazon’s voice assistant Alexa.
“Ring’s home security products and services have delighted customers since day one,” an Amazon spokesperson said in a statement. “We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”