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The price of the takeover was not immediately clear, but Reuters estimates the acquisition at over $1 billion. We expect Amazon not to replace the Ring brand on the products after the buyout, just like it did with Audible, Twitch, and Zappos. The company will likely be allowed to do business as usual after the deal.
A Ring spokesperson explained that the firm’s mission is to lower crime rates in communities via its home security tools. Ring is confident that a partnership with Amazon, which has a history of being customer-centered, would help it carry out that mission.
We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods,
Ring said.
Smart Doorbells a Welcome Addition to Amazon’s Echo
A spokesperson for Amazon unveiled that Ring’s products have been very popular with its clients. The company likely plans to integrate the new technologies into its tremendously popular home technology hub aka the Echo smart speaker.
Ring sells wi-fi-connected doorbells which can tell who is at the door via connected video cameras. The doorbells prompt users via their smartphones or tablets and enable them to talk to the person at their door even if they are not at home.
Ring hopes its smart doorbells could help trim crime rates after making the devices affordable for everyone. A basic smart doorbell costs $179, and it comes in several versions.
In January, Ring bought Mr. Beams, a firm that produces smart LED lighting triggered by motion sensors.
It is not the first time Amazon interacts with Ring. In the past, it invested in the company via the Alexa Fund to help it develop products for its smart home lineup.
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