Amazon buys smart doorbell maker Ring to fuel its smart home ambitions

Amazon wants to own your smart home — the part closest to the front door, anyway. 

The retail giant has acquired smart doorbell maker Ring, in a deal that’s reportedly valued at more than $1 billion. 

“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,” a Ring spokesperson said in a statement.

Terms of the acquisition, which was first reported by Geek Wire, weren’t immediately clear, but Reuters reports the deal is worth more than a billion dollars. The move represents a major step forward in Amazon’s smart home ambitions.  Read more…

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Source: Mashable | Amazon buys smart doorbell maker Ring to fuel its smart home ambitions