Google Acquires Nest To Conquer The Connected Home Market
The tech giant signed an agreement to buy the connected device company for $3.2 billion.
This move shows that the global tech leader is taking serious steps into conquering the connected home market, and also gives Nest access to massive resources and platform to bring its connected products to the next level.
According to TechCrunch, Nest Founder and CEO Tony Fadell stated, “Google will help us fully realize our vision of the conscious home and allow us to change the world faster than we ever could if we continued to go it alone.”
Nest Labs first launched its connected thermostat in 2011 and the product has been a consistent best seller. The company’s second product, the Protect smoke alarm, has also been doing well since its recent launch.
In a press release, Google CEO Larry Page 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!
Fadell and co-founder Matt Rogers will both join Google. Nest will continue to operate under Fadell and will retain its brand identity.
The deal has yet to be closed, pending regulatory approvals in the US.
Source, Image: TechCrunch