Founded five years ago by Jamie Siminoff, Ring, the maker of video-camera enabled doorbells, has been acquired by U.S.-based e-commerce giant Amazon for $1 billion USD.
According to Business Insider, the deal was announced late Tuesday and will assist Amazon in positioning itself in the home security space, while also helping Jeff Bezos’s company push deeper into better home delivery.
“Ring’s home security products and services have delighted customers since day one,” Amazon said in an email statement to Business Insider. “We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”
Amazon also recently purchased Blink, another connected doorbell manufacturer, which bolstered the Seattle-based company’s home security offerings.
Additionally, Amazon recently launched Amazon Key in the U.S. — a service that allows doors to be unlocked with a smartphone instead of a physical key.
Amazon’s acquisition of Ring and Blink could no doubt help the company alleviate homeowner concerns about direct-to-home Amazon deliveries.
“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,” said Ring in a statement to GeekWire. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon.”
“We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.”
Ring products can be purchased in Canada, ranging in price from $279 to $650.