Amazon pays $1 billion for Ring, tech startup with Ukrainian developers

Amazon has acquired a U.S. tech startup for reportedly $1 billion. Called Ring, the startup, which develops smart home systems, has one of its largest development centers in Ukraine.

Ring makes high-tech doorbells, and by purchasing it on late Feb. 27, Amazon expects to improve its parcel delivery service.

Ring doorbells record live video of the homeowner’s doorstep, then wirelessly broadcasts it to their smartphones so they can greet and talk to visitors remotely.

Opened in 2016, Ring’s Kyiv office has been involved in developing both software and hardware for Ring, and provides online support. Ring would not comment on the future of its Ukrainian office after the agreement. It hires 450 people in Kyiv.