Amazon has bought security company Ring that's mostly known for its smart doorbells. "We're excited to work with this talented team and help them in their mission to keep homes safe and secure", Amazon said in a statement.
A source familiar with the matter stated that Amazon's acquisition of Ring will range from $1 billion to $1.1 billion, marking as one of the Seattle-based company's biggest deal, after its $13.7 billion takeover of supermarket chain Whole Foods Market Inc. previous year.
Moreover, in October it launched a service in the United States called Amazon Key that allows couriers to deliver items inside homes. That being said, Amazon has partnered with Ring in the past via Alexa Fund, a fund that invests in companies utilizing Alexa voice tech.
Ring has seen great success since its 2013 appearance on the show Shark Tank. Imagine if with the new acquisition, Amazon Prime members could get the service bundled in.
When we asked him about Amazon's Key service at the end of past year - Amazon's service that lets couriers unlock your front door - he told us.
Ring doorbells are already being used by 2 million customers.
This is yet another video doorbell acquisition by Amazon, as back in December, the online retail giant acquired security doorbell camera startup Blink, for an undisclosed sum. In November, Siminoff gave an update on the show, saying that Ring is valued at more than $1 billion and employs more than 1,300 people. The company has since introduced other products, including security cameras, home alarms, and WiFi-enabled smoke detectors and flood sensors.
Meanwhile, Amazon has also been pushing its Echo smart speakers - and the Alexa virtual assistant they embody - over the past few years.
What do you think about Amazon purchasing Ring?
Google, one of Amazon's biggest rivals, is also an increasingly important player in home automation and security, with its Nest thermostats and security cameras.
With this acquisition, Amazon would be able to position the Amazon Echo as a total smart home solution hub.