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Amazon buys startup Ring in $1 billion deal to run your home security

Added to IoTplaybook or last updated on: 03/14/2018

IoT Playbook Insight: According to Reuters, Amazon executives stepped into a messy pile of publicity a few months ago shilling their "unlock your door for delivery people" campaign, but they have just cleaned that up. An expensive clean up, at $1 billion, but that's the acquisition cost of Ring, makers of video doorbells with two way communications to a smartphone. When you can see who's at the door, you'll feel better about opening it. And if you are in the home automation business, Amazon is going to create a massive wave of new business.

(Reuters) - Inc (AMZN.O) has agreed to buy video doorbell maker Ring, the companies said on Tuesday, in what analysts see as a growing bet on delivering packages inside of shoppers’ homes and on home security.

The deal valued Ring at more than $1 billion, a source familiar with the matter told Reuters.

Amazon declined to discuss the terms. Ring is set to be one of Amazon’s most expensive takeovers, after its...