Google acquires Nest Labs, makers of smart thermostat, for $3.2 billion

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Nest Thermostat

Image via Flickr user Ben Terrett

Google announced in a press release that it has entered into an agreement to buy Nest Labs, Inc. for $3.2 billion in cash. Larry Page, CEO of Google have stated that,

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!

As you might already know Tony Fadell is considered as the “Father of iPod”, although Tony isn’t the only former Apple employee, there are numerous number of former Apple employees who have been in the working staff for Nest Labs. In a statement regarding the acquisition Tony Fadell said,

We’re thrilled to join Google. With their 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.

— Nest (@nest) January 13, 2014

The Nest Thermostat sells for $249 and its Protect smoke and carbon monoxide detector costs $129.

Via: AppleInsider
Source: R/e code, Google Investor relations



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