Amazon.com Inc (NASDAQ: AMZN) has acquired smart doorbell maker Ring for approximately $1 billion to expand its delivery services, making this Amazon’s largest acquisition, according to Reuters.
Amazon’s acquisition of Ring marks another step forward for the tech giant to transition itself into an individual company. The company has been looking to work solely by itself as it looks to ditch its delivery partners, UPS and FedEx.
According to GeekWire, Amazon is looking to keep Ring as its own independent business, but be under Amazon’s umbrella like other subsidiaries such as Twitch. Other financial details were not disclosed.
"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." said Ring’s spokesperson in an email to CNBC, who confirmed the deal.
Recently, Amazon has been aggressive with home delivery service. Last year October, speculation rose of Amazon looking to launch its own delivery service for its third party vendors, calling it “Seller Flex” or another possible one called “Shipping with Amazon.”
Amazon has already approached different delivery methods such as ocean freight and cargo planes. Now, its acquisition of Ring pairs with its recent acquisition of Blink.
Amazon acquired Blink in December, a company that specializes in affordable home security cameras. Although the exact reasoning for the takeover wasn’t disclosed, many believe that it is to partner with Amazon’s home delivery allowing deliveries inside the home while homeowners can monitor it through their mobile devices.
“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,” said Ring.