Amazon is doubling down on the smart home space, buying Ring video doorbell company for a reported $1 billion, says Reuters.
Ring, based in Santa Monica, Ca., produces video doorbells like its Doorbell Pro, designed to let customers view who is at their front door, whether they're at home or not. The company also makes products including security cameras and Wi-Fi extenders.
Amazon is likely to keep the Ring brand alive, but incorporate some of Ring's technology into Amazon's own smart home line which today includes the popular smart home speakers Echo and Echo Dot. Amazon also makes other smart home devices including a smart home camera called Cloud Cam, which is a competitor to Ring as well.
Ring is just the latest acquisition for Amazon which also scooped up smart home camera maker Blink for $90 million earlier this month. But the deal for Ring, at $1 billion, is a far more expensive bet for Amazon — and one that signals its firm commitment to the smart home space.
"Ring's home security products and services have delighted customers since Day 1," said Amazon in a statement. "We're excited to work with this talented team and help them in their mission to keep homes safe and secure."