Wednesday, February 28, 2018

Amazon boosts its home security portfolio with acquisition of Ring

It's the second such acquisition in a few short months for the online retailer.



Ring, a company is best known for its video doorbell, has been acquired by Amazon, ZDNet can confirm.

The acquisition was first reported by Geekwire. A formal announcement isn't expected at this time.

According to Reuters, Amazon paid over $1 billion for the company.

"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 to ZDNet.

The spokesperson added: "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."

The purchase for Amazon follows a purchase of another home security company, Blink. It also comes after the company introduced its first home security camera, Amazon Cloud Cam.

"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," an Amazon spokesperson said in a statement to ZDNet.

Ring's product lineup includes several different cameras, with various power options. In January, the company announced its complete home security system, Ring Alarm, was close to shipping after a lengthy delay. The company also announced it had acquired Mr. Beams at that time.

Amazon's interest in home security makes sense as it looks to expand the reach and potential of its smart speaker and home automation lineup.




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