Amazon announced a couple of months ago that it was acquiring Ring, the company behind the Ring Video Doorbell and other smart devices. Terms of the deal were not disclosed but subsequent reports suggested that it may have been valued at $1 billion. Amazon has now officially closed its Ring acquisition and to celebrate that it has discounted the first-generation Ring Video Doorbell to $99.99 permanently.

Amazon has discounted the video doorbell by 50 percent as prior to the acquisition, Ring was selling the device for $200, at least that was the MSRP. The device could often be found on sale for $140.

Amazon’s future plans for Ring are not known at this point in time but for now, Ring operates as an independent company under Amazon’s umbrella. When the acquisition was announced, Ring said that this partnership will enable the company to achieve even more than it already has.

“Together with Amazon, we will accelerate our mission dramatically by connecting more neighbors globally and making our security devices and systems more affordable and accessible,” said Jamie Siminoff, CEO and Chief Inventor of Ring.

To be clear, Amazon has only permanently dropped the price of the first-generation Ring Video Doorbell. It’s now available for purchase from Amazon for $99. The second-generation Ring doorbell still costs $200.

Filed in Gadgets. Read more about , and . Source: businesswire