Amazon acquires Ring, Santa Monica-based maker of smart doorbells

Friday, 02 Mar, 2018

The deal, as reported by Reuters, is worth an estimated $1 billion, although Amazon would not offer any specifics on the financial arrangements.

However, more exists to the acquisition of Ring by Amazon than just protecting parcels delivered to the house, say analysts.

"We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods", the spokesperson added.

Ring has also announced a number of new smart-home security products at CES last month and Amazon appears to be jumping in at the right time.

Amazon has agreed to purchase Ring, a maker of internet-connected doorbells and security cameras, as it accelerates its Alexa-powered push into the "smart home". What we may see is new products that will enhance the product lineup and also Amazon's services.

The company's mission is to reduce crime in neighborhoods while providing affordable options that work for every home.

Amazon was trading at $1,521.94 per share.

The California-based startup is a logical acquisition for Amazon, given its recent dive into the smart home security sphere. A year ago it began selling an indoor security camera of its own design, Amazon Cloud Cam, and in December it acquired Blink, a maker of low-cost internet security cameras and doorbells. If you want to avail this video recording feature, you will have to subscribe with a paid plan to the Ring.

The technology addresses the ongoing challenge of package theft and provides an additional benefit for Amazon Prime members.

Delivery people are not given access codes, as unlocking doors is done online. The company sold tens of millions of its Alexa voice assistant products over the holidays.

Ring is one of the more identified name in internet connected home security.

Amazon has taken some baby steps into home security. The skill has a 2-star rating.

Siminoff, who thought up the concept after noting he couldn't hear his doorbell ring while he was toiling away in his garage, showed up on Shark Tank in 2013 with his product, which he then called Doorbot, CNBC reports.