Amazon buys smart doorbell maker Ring for a reported US$1 billion
Amazon has previously invested in Ring through the Alexa Fund, its investment arm exclusively investing in Alexa-powered devices
By Eugene Kim
Amazon is buying smart doorbell maker Ring, a deal that will allow Amazon to work with the team on home security, the companies said.
In an email statement to CNBC, Ring’s spokesperson confirmed the deal, saying, “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.”
Amazon is expected to keep Ring as an independent business, much like it has with other its acquisitions, like Zappos and Twitch, according to GeekWire, which earlier reported details of the deal. The deal is expected to be worth over US$1 billion, according to Reuters.
The two companies are expected to announce the deal later today.
Amazon’s spokesperson also confirmed the deal, saying, “Ring’s home security products and services have delighted customers since day one. We’re excited to work with this talented team.”