According to GeekWire, Amazon preparing to acquire Ring, a company that produces video doorbells and some other smart home devices.
The said acquisition is the more recent showcase of the foray of Amazon into the smart home sector. Reuters says that the deal is more than $1 billion, even though financial terms were not disclosed officially by the companies that are involved.
Amazon will possibly go after some kind of product integration while also maintaining the Ring brand and urging the company to continue the functioning as it did before the acquisition.
Ring is based in Sta. Monica, California. It is perhaps most well-known for its line of video doorbells and cameras that are enabled by WiFi. The products allow users to know who is at their door. Owners can make use of their smartphones or tablets to see live videos and talk to the person that is at the door, even if the user of the device is not at home.
In a statement, a spokesperson for Ring said: “Ring is committed to our mission to reduce crime in neighbourhoods by providing effective yet affordable home security tools to our neighbours that make a positive impact on our homes, our communities, and the world.
“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 neighbourhoods.”
The said acquisition is not the first time that Amazon has expressed its interest in positioning the company’s line of Echo devices as a smart technology hub. Last December, Amazon was able to acquire a Massachusetts-based company that designs video doorbells and smart security cameras that is called Blink. Amazon also launched the company’s own home security camera, the Cloud Cam, recently. It is compatible with smart locks and the Amazon Key to give users the ability to grant people access to their homes even if they are not at their homes themselves. The Cloud Cam sells for $140 on its own. However, the users also have the choice to purchase the Amazon Key In-Home Kit, which includes a smart lock and a Cloud Cam for $250.
Via the Alexa Fund, Amazon has also invested in Ring before. Alexa Fund is a venture capital funding initiative that strives to aid companies to build skills for Alexa, the voice assistant of Amazon.
In a statement, a spokesperson from Amazon stated: “Ring’s home security products and services have delighted customers since day one.
“We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”