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Amazon delves deeper into smart home technology with acquisition

Amazon is ramping up its presence in the smart home security market.

The company has reached an agreement to acquire Ring, which makes WiFI-enabled doorbells and other smart home technologies. Reuters put the deal at more than $1 billion.

“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our neighbors that make a positive impact on our homes, our communities, and the world,” Ring said in a statement. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods.”

Amazon previously invested in Ring via its Alexa Fund, which helps companies that build skills and products for Alexa.

“Ring’s home security products and services have delighted customers since day one,” Amazon said in a statement. “We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”

In December, Amazon acquired Blink, a startup that makes smart home security cameras and security systems.
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