Amazon has announced that it has reached an agreement to acquire video doorbell maker, Ring, as it ramps up its efforts to offer a smart home ecosystem.
According to Geekwire, the California-based manufacturer of video cameras, WiFi-enabled doorbells and other security systems, is to be taken over by Amazon as it works on growing Alexa as a platform across different parts of the home.
The move follows the acquisition of security camera startup company Blink in January of this year and the launch of Cloud Cam last October, as Amazon ramps up its focus on home security. The finer details are yet to be disclosed, but Reuters estimated that the deal is worth more than $1 billion.
Last month Ring acquired startup company, Mr. Beams, a manufacturer of WiFi-enabled and motion-sensing LED lighting.
It is expected than Amazon’s relationship with Ring will be very much similar to its how its runs Audible and Zappos – aka working on product integrations yet keep the brand as is, and largely allowing operations to run as they had before.
The company already had a close relationship after Amazon had previously invested in Ring via the Alexa fund (dedicated to helping manufacturers create Alexa skills). Ring officially unveiled its integration with Amazon’s Alexa voice platform last June.
“Ring is committed to our mission to reduce crime in neighbourhoods by providing effective yet affordable home security tools to our neighbours that make a positive impact on our homes and communities,” said a Ring spokesperson said in a statement. “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.”