Amazon Acquires Ring for $1 Billion
CBJ — Amazon.com is buying video doorbell manufacturer Ring for more than $1 billion.
The world’s largest online retailer believes that selling internet-connected gadgets from Kindle e-readers to its new Cloud Cam will spark more shopping on Amazon.com. Ring offers the company a popular consumer electronics brand that it might not have replicated internally.
Ring’s security devices could work well with Amazon Key, a smart lock and camera system that lets delivery personnel put packages inside a home to avoid theft or, in the case of fresh food, spoiling.
Ring devices can integrate with Amazon’s voice-controlled assistant Alexa. Users of Amazon’s Echo Show device can say, “Alexa, show my front door” to receive a live feed of activity around their home via Ring cameras.
Shares of rival security company ADT Inc fell more than 2% after the news of Amazon’s decision to acquire Ring.