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Google announces acquisition of “Nest Labs” for $3.2 billion in cash

Posted January 20, 2014


Google has announced that it has entered into an agreement to buy Nest Labs, for $3.2 billion in cash.Nest Labs is a home automation company headquartered in Palo Alto, California, that designs and manufactures sensor-driven, Wi-Fi-enabled, self-learning, programmable thermostats and smoke detectors. Co-founded by former Apple engineers Tony Fadell and Matt Rogers in 2010, the start-up company quickly grew to more than 130 employees by the end of 2012. Tony Fadell served as the Senior Vice President of the iPod Division at Apple, from March 2006 to November 2008 and is known as “one of the fathers of the iPod” for his work on the first generations of Apple’s music player. In May 2010, he founded Nest Labs, which announced its first product, the Nest Learning Thermostat, in October 2011.

Earlier in October 2013 Nest Labs had launched a new “intelligent” device which is able to differentiate between burning toast and a genuine house fire, and can be switched off by waving at it. The device combines a traditional smoke alarm, which is triggered when it detects the poor visibility caused by smoke, with loads of other sensors including heat, light, activity and ultrasonic detectors and a detector for deadly carbon monoxide gas.



Larry Page, CEO of Google, said: “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!”

Tony Fadell, CEO of Nest, 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.”

Matt Rogers stated on the company website –I want to acknowledge what I consider the first great Nest partnership. I’m not talking about Google. I’m talking about the one between you and the team here at Nest. Some of you have been with us since day one while others learned about us more recently, maybe while watching The Ellen DeGeneres Show or hitching a ride on the Nest Fire Truck. One thing’s for sure – there’s no way our products would be what they are today without you, so thank you.

We’re looking forward to continuing our great partnership and remain devoted to you above all else. We know you entrust your homes and information to us and are committed to protecting that the same way we’ve always done.

Google mentioned in their press release that –Nest will continue to operate under the leadership of Tony Fadell and with its own distinct brand identity. The transaction is expected to close in the next few months.


Image Credit:  Nest Labs



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