Google has entered into an agreement to buy Nest Labs, Inc. for $3.2 billion in cash.

Google has entered into an agreement to buy Nest Labs, Inc. for $3.2 billion in cash.

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 the receipt of 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

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