Amazon is acquiring Ring, a California-based maker of video doorbells and other smart home devices. According to the reports, the deal is valued at over $1 billion. Ring is committed to reducing crime in neighborhoods around the world by creating innovative devices that put the power of home security in the hands of homeowners.
“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,” said Ring’s spokesperson.
“Ring’s home security products and services have delighted customers since day one,” an Amazon spokesperson said in a statement to Geekwire. “We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”
In October last year, Amazon introduced its own indoor security camera named Amazon Cloud Cam. Cloud Cam features 1080p Full HD resolution video, night vision, two-way audio, a wide viewing angle, and activity clips from the last 24 hours via the Amazon Cloud Cam App—all for only $119.99. With Ring’s acquisition, there’s a high chance that Amazon may discontinue it as it will compete against Ring’s own line up of security cameras.