“Amazon completed its acquisition of smart-home security company Ring this morning and dropped the price of the Santa Monica, Calif.-company’s original video doorbell to $99.99 — a gesture that has become one of the Seattle tech giant’s signature moves on such occasions,” Todd Bishop reports for GeekWire. “The doorbell previously sold for $179.”
“Ring will continue to operate independently, Amazon confirmed in a joint news release Thursday announcing the completion of the deal,” Bishop reports. “However, the companies say they “will work together to accelerate Ring’s mission to reduce crime in neighborhoods with affordable, effective home security products and services.””
“The acquisition, first reported by GeekWire on Feb. 27, promises to move Amazon and its Alexa voice assistant further into the home security market,” Bishop reports. “Reuters at the time put the price at more than $1 billion, although Amazon has yet to confirm the number even with the completion of the deal this morning… Ring’s latest Video Doorbell 2 continues to sell for $199, with the higher-end Video Doorbell Pro selling for $249 and the Video Doorbell Elite going for $499.”
Read more in the full article here.
MacDailyNews Take: Amazon knows what sells well, so they know exactly which acquisitions to make.
As we wrote back in February, “Yet another typically smart move by Jeff Bezos.”
Amazon to acquire Ring video doorbell maker – February 27, 2018