Amazon set to buy Ring in a deal valued at over $1 billion: source

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(Reuters) – Inc is set to buy privately held Ring for more than $1 billion, a source familiar with the matter told Reuters, as the tech giant looks to expand into the home security space.

Santa Monica, California-based Ring’s products include security cameras and video doorbells.

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

Reporting by Jeffrey Dastin in San Francisco and Gregory Roumeliotis in New York; Editing by Maju Samuel