Google Acquires Nest Labs for $3.2 Billion in Cash

Google Acquires Nest Labs for $3.2 Billion in Cash

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Google Inc. 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.

FAQ:
● Will Nest continue to support iOS so I can have the Nest app on my iPhone or iPad?
○ Yes, absolutely. We’ll continue supporting iOS, Android and modern web browsers so you can check in on your home and control the temperature from wherever you are.

● Will Nest and Google products work with each other?
○ Nest’s product line obviously caught the attention of Google and I’m betting that there’s a lot of cool stuff we could do together, but nothing to share today.

● What will happen to the Nest warranties on products?
○ No change there – we stand behind our products like we always have.

● Will I still be able to find Nest products at my local retailer?
○ You bet. We intend to continue selling through the same partners in the US, Canada and the UK.

● Will Nest customer data be shared with Google?
○ Our privacy policy clearly limits the use of customer information to providing and improving Nest’s products and services. We’ve always taken privacy seriously and this will not change.

More details at the link below...

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Google Acquires Nest Labs for $3.2 Billion in Cash

Google Acquires Nest Labs for $3.2 Billion in Cash
lkjsljk - January 16, 2014 at 3:26am
first it was robots now its smoke alarms... so robot firefighters? lol no seriously police, firefighters, all robots... think a-FUC-IKIN bout it!
Aliiiii - January 15, 2014 at 6:57pm
Google is Government, have anyone else notice that Google wins almost every lawsuit and or get away with aquiring any company? Meanwhile AT&T or sprint are not allowed to squire a small company called metro pcs lol
MaKI - January 14, 2014 at 12:48pm
You don't see it? Everything what was worthy for iOS has been bought by Google and then totally discontinued. I would change answer " >>>> Will Nest continue to support iOS so I can have the Nest app on my iPhone or iPad? ○ Yes, absolutely. We’ll continue supporting iOS, Android and modern web browsers so you can check in on your home and control the temperature from wherever you are. <<<<< TO >>>> No we won't because Apple Safari won't be modern browser in near future. DO YOU REMEMBER "ZUMOCAST"? Software where you have been able to stream your music and data to your iphone from your computer? Check their webpages, who owns ZUMOCAST and what support does iOS have right now? 3.2Billions $ are worthy ... Tell me about companies and their competitions :-( no way. There are surely more and more such an examples ... i just remember one more email software company, also bought by Google, interestingly just making iOS Mail Client. Etc. What else GOOGLE? What else?
Bigjiba - January 14, 2014 at 11:31am
It's more about mobile linked to home automation. Apple needs to step up. Wearables and home automation. Where are the products?
Alfalfa6945 - January 14, 2014 at 5:42am
3.2 billion for a thermostat/smoke detector company? And a very small company at that... Seriously, how many people reading this post have thought to themselves "Gee, I really need to replace my thermostat. I mean it's keeping my house at reasonable temperature, but it's really pissing me off"? Exactly NOBODY. Smoke detector? The only time I think about it is when it goes off when I'm cooking too much bacon... These two products that Nest sells have a very limited market. Nobody that rents needs one, they use the built in ones. And people that have a house probably already have devices like these. 3.2 billion for a company like this... Something smells funny...
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