Amazon said Tuesday that it had acquired Ring, a maker of internet-connected doorbells and cameras, pushing more deeply into the home security market.
The deal is worth around $1.1 billion, according to a anonymous sources because the terms were private.
Ring is best known for a doorbell with a security camera inside. The device allows homeowners to monitor visitors at their front door through an accessible app on their phone, even if they’re not at home. Amazon has made accessibility for blind and low vision users a major focus in the past few years and now home automation due to the success of its Echo family of products, which allow users to control thermostats, surveillance cameras and other connected devices using voice commands.
Amazon’s Echo Spot device already works with Ring doorbells, allowing people to listen, talk to with 2 way communication and look at footage from the cameras on the Echo Spot’s screen. Amazon had invested an undisclosed amount in Ring through its Alexa Fund, which finances start-ups that integrate their products with Alexa, the Amazon intelligent assistant that powers Echoes and other devices.
The companies declined to say much about their plans. “Ring’s home security products and services have delighted customers since Day 1,” Amazon 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.”
Ring’s statement said: “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.”
Late last year Security company ADT blocked Ring’s attempt into entering the home security market. ADT took a hit after the announcement as their stock fell sharply. It ended the day down 4.6 percent.
