Google Acquires Nest for US$3.2 Billion

Google Acquires Nest for US$3.2 Billion

Acquisition is one of Google's main mode of growth. Just look at their buying history which includes the large acquisition of Motorola Mobility and the smaller capture of companies like Bump and Flutter. The latest investment by Google is US$3.2 billion in cash for Nest Labs.

Nest Labs is perhaps most famous for its Nest Learning Thermostat and the Protect Smoke Detector. Both of them are simple, everyday objects that have been redesigned to be smarter and more energy efficient. Google Ventures had already invested in Nest and now Google has decided to bring the whole show on-board.

Nest Labs wasco-founded by Tony Fadell, who had previously been working at Apple's mobile phone division. Speaking about the acquisition, he stated that Nest products will retain their compatibility with the iPhone and iPad. He also said that the customer's private data will be respected and used only to improve Nest products.

Google acquisition of Nest Labs is expected to be completed in the coming few months and the standard regulatory reviews have been cleared.

Source: Google, Nest via The Verge

All News Categories

Obsessed with technology?
Subscribe to the latest tech news as well as exciting promotions from us and our partners!
By subscribing, you indicate that you have read & understood the SPH's Privacy Policy and PDPA Statement.