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Google Buys Nest Labs for $3.2 Billion

January 14, 2014

Tech giant Google is acquiring smart-device maker Nest Labs for $3.2 billion.

Nest Labs became known in 2011 when it launched a modern, easily installed thermostat that could be controlled by telephone, and that was followed soon after with a smoke detector.

"Nest's founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family. They're already delivering amazing products you can buy right now - thermostats that save energy and smoke/CO alarms that can help keep your family safe. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!" Google CEO Larry Page said.

Fadell, CEO of Nest Labs, said that with Google's support, "Nest will be even better placed to build simple, thoughtful devices that make life easier at home, and that have a positive impact on the world."

The all-cash deal, to be closed in the coming months, will integrate Nest Labs into the Google structure, though the company will keep its own brand identity and will continue to be directed by Fadell.

Nest Labs said its devices will maintain their compatibility with Apple tablets and telephones, which rival the Android operating system of Google, and that there will be no substantial changes for their clients.

The company gave no details about what products could be created now that is belongs to Google.

(c) 2014 EFE News Services (U.S.) Inc.
Original headline: Google buys Nest Labs for $3.2 bn as part of push into smart devices



Source: (c) 2014 EFE News Services (U.S.) Inc.


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