The start-up’s security devices could work well with Amazon Key, a smart lock and camera system that lets delivery personnel put packages inside a home to avoid theft or, in the case of fresh food, spoiling. The deal valued Ring at more than USD 1 billion, a source familiar with the matter told Reuters. However, Amazon declined to discuss the terms. After its USD 13.7 billion deal in 2017 for Whole Foods Market, Ring is set to be one of Amazon’s most expensive takeovers.
Prior to the deal, Amazon was working on a competing smart lock with camera, according to a separate person familiar with the matter. Its decision to buy Ring underscores the task startups have trying to win in the home security space.
Currently, Ring devices can integrate with Amazon’s voice-controlled assistant Alexa, Reuters continues. Users of Amazon’s Echo Show device can say, “Alexa, show my front door” to receive a live feed of activity around their home via Ring cameras.
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