Amazon buys smart doorbell maker Ring for a reported $1 billion

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The Seattle-based tech giant announced Tuesday it's made another move into the home security and surveillance business, acquiring Ring, a smart-doorbell maker that streams audio and video to cellphones.

As CNBC reported, Amazon is reportedly buying the smart doorbell company Ring for more than $1 billion.

Amazon is expected to continue-and build on-the Ring brand, as it has with some of its other past acquisitions of Zappos, Twitch and Audible.

This isn't the first time Amazon has partnered with Ring.

A Ring spokesperson explained that the firm's mission is to lower crime rates in communities via its home security tools.

Amazon's acquisition of Ring is part of the company's broader strategy to make its Alexa digital assistant a central feature of people's homes, helping them to shop, run appliances, request music and video on demand, organize their day and manage their household. "We're excited to work with this talented team".

Ring is already integrated with Alexa and can interact with Amazon's smart display Echo Show and Fire TV.

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All of that is clearly of interest to Amazon that has also been evincing a keen interest in IoT devices, smart connected homes as well as connected home security apparatus.

Once a Shark Tank reject product, news is swirling that smart doorbell maker Ring has been acquired by Amazon for $1 billion (a little more than the $7 million CEO and founder Jeff Siminoff valued the company at when he presented it to ABC's celebrity panel of investors).

Ring employs more than 1,500 in their offices in the United Kingdom and Amsterdam.

Ring doorbells record live video of the homeowner's doorstep, then wirelessly broadcasts it to their smartphones so they can greet and talk to visitors remotely.

It's likely that Amazon could make use of the Ring technology to help make customers more comfortable with the retailer's new service that allows couriers to open their front door to deliver parcels, even when the owners aren't at home.

Amazon says it believes Ring's devices represent an important node in a growing home-security ecosystem built around Amazon Key product, which the company launched last October.

US technology website VentureBeat said the agreement could help in the automation of Amazon's delivery services. "Wedbush Securities analyst Michael Pachter feels that the deal could help Amazon revolutionize home security".

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