Amazon just bought Ring and its smart home devices for $1 billion

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Amazon just bought Ring and its smart home devices for $1 billion

Amazon announced the purchase of Ring in a deal valued at $1 billion.

"Ring's home security products and services have delighted customers since day one", an Amazon representative said Tuesday in a joint statement with Ring.

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).

Just like Amazon's earlier deals, the smart home group is expected continue operating as an independent business and bring product features into core Amazon products.

However, more exists to the acquisition of Ring by Amazon than just protecting parcels delivered to the house, say analysts. "We're excited to work with this talented team".

Amazon expanded its network of household, internet-connected gadgets with the acquisition of Ring, a high-tech doorbell makers based in Santa Monica, for the price of $1 billion.

Leading e-commerce company Amazon has bought the ownership of the video doorbell startup company Ring. Cloud Cam ties in with Amazon Key, a program that gives delivery personnel the ability to deliver boxes inside your home. Although the exact reasoning for the takeover wasn't disclosed, many believe that it is to partner with Amazon's home delivery allowing deliveries inside the home while homeowners can monitor it through their mobile devices. And with the recent launch of its new service Amazon Key, as well as its new Cloud Cam, Amazon really has wedged its foot in the door of not only home delivery but also home security. Ring officially unveiled its integration with Amazon's Alexa voice platform last June.

Perhaps the Ring deal is in part of Amazon's answer to that.

However whether or not Amazon wanted to make Ring exclusive to its services was unclear, but for now it looks like HomeKit support is still on the cards, so Ring customers who are also Apple users won't have to worry.

Back in 2013, Ring, then known as doorbot, was rejected by four "sharks" on the popular TV show Shark Tank, with the final shark, Kevin O'Leary, putting an offer on the table that was too low for doorbot.

"I am an investor in Ring, and while the product is exciting and its mission to reduce crime in communities is important; what I found so interesting was the story of the young entrepreneur - James Siminoff - behind it".

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