Google Buys Nest Labs For $3.2 Billion

Nest Labs is a connected device company responsible for the Nest learning thermostat and the Protect smoke detector.

Google has just announced its acquisition of Nest Labs for a whopping 3.2 billion dollars. Nest, founded by iPod creator Tony Fadell, creates connected devices for the home, such as the Nest learning thermostat – a thermostat that learns your heating and cooling habits and uses them to save you money, and the Protect smoke detector – a smoke detector that can tell you exactly where and how a fire is breaking out in your house.

Nest will continue to operate independently following the accquistion, co-founder and CEO Tony Fadell told the Verge. He says that co-founder Matt Rogers will make the move to Google, while he will stay and manage Nest. He also confirms that Nest will continue to support Apple and iOS products going forward.

Google Ventures had already invested tens of millions of dollars in Nest, so the company has been on Mountain View’s radar for some time now. It says the acquisition should be finalized over the next couple of months.

It’s unclear what Google plans to do with Nest, but with the emergence of products such as Google Glass, I’m sure it will be able to find a use for Nest’s devices and technology.

“We are excited to bring great experiences to more homes in more countries and fulfill their dreams!” said Google CEO Larry Page in an official statement.

I’ve never really heard of Nest until now, but if Google seems to think that it’s worth $3.2 billion, it may be a company to keep a close eye on.

Source: The Verge