Amazon has agreed to buy video doorbell maker Ring in order to expand its smart home product line-up. The product is expected to help the e-commerce giant deliver packages, even when customers are not home.
The deal valued Ring at more than USD 1 billion, a source familiar with the matter told Reuters. Amazon declined to discuss the terms.
Amazon’s Alexa Fund, which offers venture capital to companies working on voice technology, invested in California-based Ring, and Ring devices already can integrate with Amazon’s voice-controlled assistant Alexa. Users of Amazon’s Echo Show can say 'Alexa, show my front door' to receive a live feed from Ring cameras.
Amazon was working on a competing smart lock with camera prior to the deal, a separate person familiar with the matter told Reuters. It already acquired the maker of Blink home security cameras last year.
