Amazon has acquired a maker of internet-connected doorbells

Amazon has agreed to purchase Ring, a maker of internet-connected doorbells and security cameras, as it accelerates its Alexa-powered push into the “smart home”. The online retailer is trying to consolidate the stronghold created by the popularity of its Echo smart speakers and its Alexa virtual assistant by launching an array of connected devices and services, including home security monitoring with its Cloud Cam and in-home deliveries via Amazon Key service. Amazon is paying around $1 billion for Ring… making it one of the Seattle-based company’s largest acquisitions. Before its $13.7 billion takeover of Whole Foods, Amazon had spent around $1.2 billion on Zappos, the online shoe retailer, $1 billion for Twitch, a live-streaming site for video games, and about $800 million for Kiva Systems, whose robots are used in its warehouses… Ring has become one of the largest standalone companies left in the connected-home market. The Santa Monica-based company has more than 1,000 employees and over 1 million customers, which it calls “neighbours”, spread over more than 100 countries… After Nest was acquired by Google for $3.2 billion in 2014, the smart home market has seen rapid consolidation as Apple, Amazon, Google and Samsung all try to create a central platform for managing customers’ domestic “internet of things”.
Tim Bradshaw and Eric Platt