Through a press release on JANUARY 13, 2014, Google announced that it purchased Nest Labs, Inc. for $3.2 billion in cash. Nest Labs are the makers of Nest Learning Thermostats and Protect smoke detector.
Launched in 2011, the company immediately became the industry leader in developing and marketing sensor-driven, self-learning, Wi-Fi-enabled, thermostats and smoke detector devices.
Larry Page, Cofounder and 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!”
Though, Nest has been reported to continue operating independently; the co-founder and CEO Tony Fadell tried to explain Goolge’s role:
“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,”
On January 14, 2014, Google has officially acquired the company. However, the sale is expected to close in coming few months.