Posted on March 1, 2018 by staff

Amazon agrees deal to buy Ring ‘for more than $1bn’


Amazon has agreed a deal to buy Ring in a deal which reportedly values the video doorbell company at more than $1 billion.

Ring is considered by experts to be one of the leading firms for home security as homeowners can view the space outside their property wherever they are.

It allows them to communicate with people on their doorstep to leave instructions for the delivery of packages.

A Reuters source made the claim that the deal puts Ring’s value at more than $1bn.

Echo maker Amazon has a recent policy of incorporating Internet of Things technologies into its business. Ring’s security devices could work with its smart lock and camera system Amazon Key, which allows packages to be placed inside a hom.

This is seen as essential for the delivery of fresh food – and last year Amazon bought Whole Foods Market for $13.7bn.

Ring devices are already integrated with Amazon’s voice-controlled assistant Alexa while Amazon’s Alexa Fund was already invested in the California-based Ring.