Amazon is wrapping up the month of February with a huge acquisition.
Amazon has agreed to acquire Ring for more than $1 billion. The companies confirmed the deal to Geekwire, expressing their excitement about working together and keeping consumers' homes safe.
Here's Ring's statement on the deal:
“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. 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.”
And Amazon's statement:
“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.”
Ring sells security products for the home, including video doorbells and security cameras. This acquisition is notable because Amazon recently launched the Amazon Key, a security system that's mean to ensure your packages get delivered safely inside your home. The Amazon Key includes a smart door lock and a cloud-connected security camera. This acquisition is also notable because $1 billion is a lot of money.
We'll have to wait and see exactly what Amazon does with Ring and its team. The Ring video doorbell already works with Amazon's Alexa assistant, but perhaps Amazon will use Ring's devices to bolster its Amazon Key offering.
Have you ever used a Ring product?