Google has recently announced in a Press Release that it will be acquiring Nest Labs for $3.2 billion. This is of course the company behind one of the most expensive, and most advanced, thermostats you can buy which can be controlled by your smartphone.
Nest Labs was spearheaded by former Apple engineers Matt Rogers and Tony Fadell. The latter engineer in particular is often referred to as the father of the iPod.
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.
After it was announced Nest took to Twitter to state “Big news! Google is acquiring Nest to help fulfill our goal of reinventing unloved home products. Nest will stay Nest.”
With the financial support from Google who knows what unloved home product will be reinvented next.
Ummm… “Siri make me breakfast?”