Amazon's reported $1bn acquisition of video-doorbell maker Ring has closed, giving the company a significant lead over rival Google in the potentially lucrative home security market. The deal, announced in February and closed today, means Amazon now owns a leader in DIY video security systems. Ring makes popular wireless doorbells with cameras and a range of home security cameras, recently launching a wireless home security system with keypads, contact sensors and motion detectors. Ring becomes Amazon's second largest acquisition to date, following its $13.7bn deal last year for Whole Foods Market. The financial details of the deal were not released.
Apr-12-2018, 15:39:48 GMT