Ring on Tuesday confirmed the company is being acquired by Amazon. According to Reuters, the online giant agreed to pay more than $1 billion for the security company, which supplies connected doorbells and security cameras, among other products.
In a statement to The Verge, Ring said by partnering with Amazon, it can “achieve even more.”
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 more by partnering with an inventive, customer-centric company like Amazon.
Ring is expected to operate independently of Amazon, though the company will likely work toward deeply integrating Alexa into its products, as well as supporting Amazon’s Cloud Cam, which operates with Amazon Key, allowing keyless entry into residences for in-home delivery.
The acquisition cements Amazon’s ambitions to become a stronger presence in the market of home security. Google has Nest, and now Amazon has Ring.
Amazon has been on an acquisition spree as of late, previously paying over $13 billion for Whole Foods.