The stock of Amazon.com, Inc (NASDAQ:AMZN) closed at $1,511.98 losing 0.66% in yesterday’s trading session. Amazon is the new owner of Ring which happens to be the maker of security systems, smart home doorbells and cameras. Several market observers have come to the open to congratulate the business guru outlining that it just made an important move that will see improve its ranking in the market.
One of the officials working with the company has disclosed that the new acquisition cost them almost $1 billion and if all move according to plan the acquisition may be pronounced later today.
He delved deeper into the matter to state that the main reason behind the move was push the company a notch higher in terms of making it more vibrant both the in-home services market as well as in the emerging home delivery market.
It was in October the previous year when the company moved ahead to debut the Key and Cloud which happens to be its in-home delivery service. The owner of some of the world’s largest lock companies Assa Abloy later on proceeded to purchase August Home .However, it is important to point out that he made the move after it kick started its in-home delivery trail.
A person familiar with the matter opined, “August Home began to experiment with in-home services in 2015 to grant access to repair personnel or plumbers, as well as to facilitate vacation rentals from companies like Airbnb and HomeAway.”
Other reports popped up recently indicating that back in 2016 Amazon was planning to move ahead and buy the August Homes for a total amount of $100 million. Several market analysts have stepped forward to speak in relation to the latest developments. They have said that the Ring acquisition could in the long run end up supporting the spread of Alexa to quite a significant number of the smart home devices.
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Amazon is with the passage of time waking up to the reality that competition in the world markets is growing fierce by the day. That is the reason it seems to be more strategic than ever before.