Amazon acquires Ring for $1bn

Amazon has further expanded and diversified its portfolio, having acquired technology-based doorbell startup Ring in a deal that is reportedly worth $1bn.

Ring manufacturers smart doorbells that are able to record live videos outside customer's houses, streaming these directly to smartphones.

See also:

• Amazon surpasses Microsoft to become the world’s third most valuable company

• Amazon pulls ahead of Google and Apple as world’s most valuable brand

• Amazon Go: Amazon’s automated grocery store is now open

The acquisition is a logical move from Amazon, with Ring already compatible with the company's existing Echo devices, in addition to Amazon's venture capital arm having invested in the company last year.

Further, it will bolster Amazon's position on the delivery last mile front, with Ring likely to complement Amazon's own initative launched in October last year - Amazon Key.

Amazon Key uses an encrypted authentication process, allowing the company's employees access to customers homes on an individual basis, enabling the delivery of goods and services in a secure manner without the receipient needing to be home.