Google acquiring Nest Labs, Inc for $3.2 billion

nestgoogle2It has just been announced that Google will be acquiring Nest Labs, Inc. Yes, that Nest that was co-founded by ex-Apple legend Tony Fadell. Many know Fadell as the “father of the iPod,” so now you can see why many are puzzled over him selling the company to Google. Google and Apple’s relations have been going down hill for years now, but no matter, Nest will be acquired by the Mountain View company. Nest, for those that don’t know, is the creator of the smart home appliances known as the Nest Thermostat and Nest Protect.

The Nest Thermostat is able to learn when you change the temperature, when you’re home, when you’re away, etc, and adjust accordingly. Not only does this lower how much power you are using and adjust itself to keep you comfortable all the time in your home, it also saves you money. The Nest Protect is a smoke detector and C02 sensor that you use to replace your ones at home and, say you are cooking and it goes off, you simply wave your hand to indicate it is a false alarm and there you go, it turns off.

The acquisition was just announced today via a Google press release, found below.

MOUNTAIN VIEW, CA – JANUARY 13, 2014 — Google Inc. (NASDAQ: GOOG) announced today that it has entered into an agreement to buy Nest Labs, Inc. for $3.2 billion in cash.

Nest’s mission is to reinvent unloved but important devices in the home such as thermostats and smoke alarms. Since its launch in 2011, the Nest Learning Thermostat has been a consistent best seller–and the recently launched Protect (Smoke + CO Alarm) has had rave reviews.

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.”

Nest will continue to operate under the leadership of Tony Fadell and with its own distinct brand identity. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US. It is expected to close in the next few months.

About Google Inc.

Google is a global technology leader focused on improving the ways people connect with information. Google’s innovations in web search and advertising have made its website a top internet property and its brand one of the most recognized in the world.

Contact
press@google.com

After the news broke, Twitter was immediately flooded with mixed emotions on the matter. Many are saying that Google is just getting that much more intrusive with smart home technology, while some are saying maybe Google could help provide resources that Nest could never provide on its own. It will certainly be something to pay attention to in the coming months, even years. Google has a large R&D portion of the company that does some crazy things, so maybe something awesome will come from the partnership. Who knows, it is only just getting started. (I’ll be honest though, I’d rather Apple had bought Nest.)

What do you think? Is this good or bad? Will you still buy Nest products? Let us know in the comments, or tweet me @TiP_Kyle.

 

Via: Google

 

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