Amazon will acquire Ring for more than $1 billion

Ring, a popular doorbell and home security company, will soon join Amazon. In a developing news story that broke yesterday, tech giant Amazon informed trusted sources that it will acquire Ring.com for over $1 billion. Up through this point, the two companies have worked together so consumers could benefit from integrated experiences, but an acquisition would allow the two to take things to the next step.

The acquisition has not gone official yet, but we wouldn’t tell you about it had we felt it would fall through. This deal is almost sealed and will reward Amazon the Ring company in exchange for a jaw-dropping $1 billion.

This move puts Amazon in a good position to capitalize on Ring’s successful smart home product developments and will likely help in the retailer’s battle with Google. Reports indicate that Amazon had been eyeing the company for a while before suggesting an offer. Similar to how Nest and recent acquisitions are helping Google develop products and services for the smart home, Ring aims to “keep homes safe and secure” with new product experiences and is “excited to work with the talented team” that is part of Amazon.

The specifics of what will come out of the acquisition have not yet been confirmed, though we’d expect Ring to work in the same offices as Amazon’s Alexa team to create integrated solutions. We don’t yet know if Amazon will merge Ring into its own hardware division or keep Ring and its branding independent. What the deal means for current customers of Ring and how exactly Amazon will make use of the division is currently unknown, but right now, it doesn’t seem like anything will negatively impact current Ring customers.

Good things should be ahead for Amazon.

SOURCE [GeekWire]
VIA [Reuters Tech News on Twitter]

About Doug Demagistris 1627 Articles
Doug Demagistris is the Founder and current Editor In Chief of Droid Turf. He grew up in New York and now attends Bryant University where he is studying marketing and communication. He has been and always will be a Google enthusiast thanks to Android’s customization, flat design and exceptional integration with various Google services. Currently, Doug uses a Pixel 2 XL as his daily driver for its unique design, powerful hardware, exceptional camera, and stock experience. For shorter instances, he’ll glance at his Huawei Watch. And for more productive work, you’ll find him typing away on his Pixelbook. Doug is hopeful his productivity will make lives easier, more meaningful and help down the road.