Google's Many Reasons to Buy Nest & 3 More Stories You Can't Miss Today. Google to acquire Nest for $3.2 billion. Google has announced a $3.2 billion (£1.94 billion) cash deal to buy smart thermostat and fire alarm producer Nest Labs.
This acquisition is second only in value to the company’s purchase of Motorola in 2012, which cost $12.5 billion. Google will help us fully realise our vision of the conscious home and allow us to change the world. The deal further cement’s Google’s move beyond its search engine and online services roots and into the hardware world. The organisation also recently purchased military grade robotics firm Boston Dynamics, which was the sixth robotics acquisition it has made since December 2013. Nest was founded by Tony Fadell, who led the team that created the first 18 generations of the iPod and the first three generations of the iPhone, and Matt Rogers, who created the iPod’s software.
In a blog post, Fadell said: “This is a momentous day for me, for Matt and for all of the Nest family. “They’re already delivering amazing products you can buy right now...
Investor Relations – Google. To Acquire Nest. 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. Google Is Buying Connected Device Company Nest For $3.2B In Cash. Google is acquiring connected device company Nest for $3.2 billion.
Google sent out an email to employees noting the acquisition today and later issued a press release. In the release, Google noted that Nest has been offering its best-selling thermostat since 2011 and recently began offering the Protect smoke alarm, which networks with its other devices. Nest Founders Tony Fadell and Matt Rogers will both join Google. Rogers was one of the first engineers on the iPhone team at Apple. “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,” said Google CEO Larry Page in a statement. Fadell, who is known as the ‘father of the iPod’, said that they’re ‘thrilled to join Google.’ Nest Says Customer Data From Devices Will Only Be Used For Nest Products And Services. Nest says that it’s not going to just hand over its customer data to Google willy-nilly post-acquisition – in a blog post sent to TechCrunch penned by Nest founder Tony Fadell, a question and answer section at the end contains the following: 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. This contrasts with some of the reactions making the rounds on Twitter, which express apprehension about the fact that Google will have access to Nest’s data, which knows, for example, where you are in your house. Welcome home. This is a momentous day for me, for Matt and for all of the Nest family.
This afternoon, we announced that we will be acquired by Google. When Matt and I started Nest in 2010, we were determined to change our homes and the world around us. Starting a business focused on the lowly thermostat seemed like a crazy idea at the time, but it made all the sense in the world to us. That little device that went unnoticed and unchanged year after year on the walls of our homes was a lost opportunity to save energy and money. We knew we could do better. So we got to work. Fast-forward to today, and we are well on our way to achieving what we set out to do. So if things are going so well, why did we decide to partner with Google?
Google to acquire connected home device maker Nest for $3.2B. Google announced on Monday that it’s in the process of acquiring Nest Labs, a home-automation company known for its digital thermostats and smoke alarms.
The proposed purchase for $3.2 billion, which is to close in coming months, will give the Silicon Valley giant one of the hottest names in energy-management technology and product design, and comes at a time when Google is also expanding its presence in robotics, energy and internet-of-things (IoT) technology. The search giant announced the news in a blog post: Holy Crap: Google Just Bought Nest For $3.2 Billion In Cash. When Google closes the Nest deal, privacy issues for the internet of things will hit the big time (Stacey Higginbotham/Gigaom) Google Buys Smart Thermostat Maker Nest For $3.2 Billion. Google Buys Nest for $3.2 Billion in Cash. Nest CEO Tony Fadell is now a Google employee.
Photo: Ariel Zambelich/WIRED Google is getting its house in order. Today, the web giant announced that it’s spending $3.2 billion to acquire Nest, a successful home hardware tech startup founded by Tony Fadell, one of the fathers of the Apple iPod. Today, Nest makes internet-connected thermostats and fire detectors, but the plan is to extend its reach even further into the home. In a Google blog post, Fadell said that, with Google’s 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.”