Amazon's acquisition of Ring welcomed by analysts
Amazon Inc (NASDAQ:AMZN) has bought home security camera and video doorbell maker, Ring, in a deal reportedly valued at more than US$1bn.
The e-commerce giant on Tuesday confirmed the acquisition of Ring but the financial details were not disclosed. Reuters reported that the deal could be worth US$1bn.
Amazon’s venture capital for voice technology arm, the Alexa Fund, had previously invested in Ring as part of its plan to expand its in-home offerings.
Credit Suisse analyst Stephen Ju said Amazon could add its new keyless entry technology, Key, into Ring’s video doorbell products.
“We believe the product/strategic rationale for the near-to-medium term would be to integrate Ring.com’s products with Amazon Key to decrease friction on order delivery by allowing users to let couriers inside their homes,” Ju said.
READ: Amazon.com shares top US$1,500 for second time in two days
Key, launched in October, allows for the delivery of packages inside shoppers’ homes when they are not in to answer the door.
The Ring Video Doorbell 2 already integrates with Amazon’s voice-controlled assistant Alexa. Users of the Amazon Echo can ask the smart speaker to show them their front door with the Ring video doorbell.
READ: Amazon to cut ‘hundreds of jobs’ as it shifts resources to Alexa and other fast-growing businesses
GBH Insights analyst Daniel Ives thinks the Ring deal is a “smart strategic acquisition” for Amazon. It gives Amazon “a clear window of opportunity to become the entrenched leader in the nascent smart home world”, he said.
Amazon’s in-home offerings also include the Cloud Cam indoor security camera, which forms part of Key to avoid theft. Last April it launched Echo Look, a voice-controlled selfie camera that helps people choose what to wear.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/192369/amazon-s-acquisition-of-ring-welcomed-by-analysts-192369.html
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