Rumor: Amazon acquires video doorbell maker Ring for US$1 billion

Rumor has it that Amazon has acquired smart doorbell maker Ring for more than US$1 billion, according to a reliable source who reported the acquisition to Reuters. Ring is mostly known for its smart video doorbells but also produces security cameras and competes with companies such as Nest. GeekWire was the first website to report the purchase of the company, which was then confirmed by Reuters. Although the takeover is extremely likely, neither company has officially announced the purchase.

The Ring Video Doorbell 2 is the company's latest product, which features a built-in battery and a 1080p camera. The doorbell can connect via Wi-Fi to your home network and send video feeds of people ringing the door on a mobile device. The doorbells can also integrate with Amazon Alexa and show a live video feed directly on Amazon's Echo Show speaker. The camera starts recording whenever the button is pressed or when the motion detector is activated.

The purchase of Ring would be Amazon's second takeover in the home security market after acquiring Blink in 2017 for an undisclosed amount. Blink also creates smart doorbells and security cameras. 

Source(s)