We’ve had a chance to check out a few products from Ring, the Santa Monica-based smarthome company. Their video doorbell and subsequent sequels to the video doorbell have earned high marks, as have other products in their smart home product line. It’s been reported that Amazon is set to acquire Ring, adding to their growing set of smart home and home security products. The deal could be made official as early as this afternoon.
Terms of the deal have not yet been announced, though Reuters suggests that it could be worth at least $1 billion USD.
— Reuters Tech News (@ReutersTech) February 27, 2018
It’s expected that Amazon will treat this acquisition in the same manner as some of its other purchases, adding functionality to its own devices (and vice versa) as possible, but otherwise allowing Ring to continue operations as they have, only now under the Amazon umbrella. This would be similar to how companies like Twitch, Zappos, and others have continued as they had pre-acquisition, only now with the backing of Amazon.
Ring sounds excited about the prospects, as a spokesperson said in a statement:
Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our neighbors that make a positive impact on our homes, our communities, and the world. We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.
Amazon was equally complimentary in their own statement:
Ring’s home security products and services have delighted customers since day one. We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.
We’ll have to wait and see how the deal shakes out for Ring owners. I for one wouldn’t complain if some sort of video backup would be included with Amazon Prime, but nothing has obviously been announced quite yet.Source: Geekwire