Amazon acquires Ring: Over the past two years or so, Amazon (NASDAQ:AMZN) has developed a bit of a reputation for moving into different industries. Perhaps the most notable example is the company’s recently finalized acquisition of Whole Foods, an American supermarket chain. Now, Amazon’s latest acquisition is of a smart home company, which makes sense when you look at Amazon’s long-term prospects in terms of the smart home marketplace.
Amazon Acquires Ring
On Thursday, April 12, Amazon disclosed that it finalized its acquisition of Ring, a smart home company. Amazon has had ties with Ring since 2016, but waited and decided to go forth with acquiring the company in 2018. Personally, I wasn’t surprised to see this headline trending today. Why? Because Amazon has been trying to make waves in the smart home market for quite some time now, and Ring is definitely a company that will allow it to continue to be innovative in the sector.
What Will the Acquisition Entail?
Essentially, Amazon and Ring will be creating economical, yet effective, home security products and services. This is a good combination of both companies skills and expertise. Further, it is thought that these products will allow for Ring to accelerate its plans to significantly slash crime in neighborhoods. Both Amazon and Ring have expressed excitement for this partnership, with the CEO of Ring Jamie Siminoff stating that Amazon acquiring Ring will allow for the company to increase its mission by connecting more neighbors globally. Dave Limp, SVP of Amazon Devices, also had kind words to say, calling Ring’s team “talented,” and saying the company invents products customers love.
In addition to announcing the completion of the acquisition, Amazon also released the price of the oh-so-popular Ring Video Doorbell. The Ring Video Doorbell has been priced at $99.99, which is the perfect price for consumers as it is reasonably economical. In other Amazon news, Walmart (NYSE:WMT) has put in its bid for Flipkart, joining Amazon in the running.
Despite the possibility of losing the Flipkart deal, the market appears relatively happy with the majority of Amazon’s news today. As of right now, Amazon is trading up nearly 20% on the Nasdaq Exchange. Specifically, Amazon is trading up $19.34, or 1.36%. Meanwhile, Walmart is also trading up (0.19%) today.
Featured Image: twitter