Google buys Nest Labs became a major smart-home story in 2014 when Google agreed to acquire the thermostat and smoke-alarm company for $3.2 billion in cash.
Google Moved Deeper Into the Smart Home
Nest’s mission is to reinvent 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!”
Nest will continue to operate under the leadership of CEO Tony Fadell and with its own distinct brand identity. The transaction is subject to customary closing conditions, including receiving regulatory approvals in the US. It is expected to close in the next few months.
According to the BBC: “Fadell is known as the “father of the iPod” for his work on the first 18 generations of Apple’s music player and was also involved in the hardware design of the original iPhone.”
It quotes Fadell as saying: ”They’ve [Google] always been keen on what we were doing because they thought we had a crazy idea, and they love crazy ideas.”
Source: Intelligent Building Today
Why Nest Mattered for Home Energy
The Nest Learning Thermostat helped make home energy management more visible to mainstream consumers. Smart controls could adjust heating and cooling schedules while giving homeowners clearer information about energy use.
For related coverage, see our guide to smart thermostat energy savings.
Conclusion
Google’s Nest acquisition showed how quickly connected-home technology was moving into the mainstream. Energy management became part of a much larger smart-home ecosystem.
Source: Original Google and Nest acquisition announcement, January 2014.
