Amazon Acquires Ring for Approximately $1 Billion
In what is one of the company’s biggest acquisitions ever, Amazon has come to an agreement with Ring to buy the Santa Monica, California based company for a reported $1 Billion. The terms of the deal were not disclosed but all indications are that Ring, much like other acquisitions Amazon has made, will at its core remain as a separate brand until the corporate umbrella.
Ring is best known for their connected cameras, doorbells and other home automation & security solutions. The acquisition, from Amazon’s perspective, fits well into their overall home automation strategy as well as integration with their assistant, Alexa.