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Amazon Closes Acquisition of Video Doorbell Maker Ring
Monday 16 April 2018

16 April 2018 - US-based online retailer Amazon (NASDAQ: AMZN) has closed its acquisition of US-based video doorbell maker Ring, the company said.

The deal is worth around USD 1bn.

Amazon said the two companies will work together to accelerate Ring's mission to reduce crime in neighbourhoods with affordable home security products and services, so more customers can see, hear, and speak to people on their property from anywhere.

To kick start this commitment, Amazon and Ring have dropped the price of the popular Ring Video Doorbell to USD 99.99, making home security more accessible than ever to customers.

Ring's Video Doorbell has been effective in reducing burglaries in neighborhoods by as much as 55%, according to an LAPD pilot programme.

Amazon's relationship with Ring began in 2016 through the Alexa Fund, the company's investment arm to support companies with cutting-edge technologies that are innovating with voice.

The investment provided a strong foundation for Ring to be able to lean into new Alexa APIs and capabilities, and develop a new Alexa skill that allows customers to use voice to view camera feeds directly from Echo Show and Fire TV.

Ring's mission is to reduce crime in neighborhoods by creating a Ring of Security around homes and communities with its suite of home security products.

The Ring product line, along with the Ring Neighborhoods network, enable Ring to offer affordable, proactive whole-home and neighbourhood security.
Details
Date Published: 16/04/2018
Target: Ring
Country: USA
Deal Size: 1bn (USD)
Sector: Consumer Products
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: Amazon
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