Tuesday, January 14, 2014

Google to acquire Nest Labs for $3.2 billion



Google Inc. has agreed a deal to buy home thermostat maker Nest Labs for a fee of $3.2 billion. Nest Labs was founded in 2011 by Tony Fadell and Matt Rogers who are both former employees of Apple Inc. and this has made the deal more interesting.

Nest Labs make thermostats and smoke/CO (carbon monoxide) alarms which are applicable in homes and help automate the process of regulating the temperature in homes. Nest thermostats are able to detect when people are in the house and when people are no more in the house.
Nest thermostat
Nest thermostat. Image: Nest
It adjusts the temperature of the house to this information. Users of the product are also able to control the temperature of their homes through its smartphone app which could allow preheating of the house in preparation for going home.
Tony Fadell was in charge of the iPod division in Apple before he left the company in 2008. He also helped in the development of the iPhone. Likewise, Matt Rogers also worked in the same department.
Nest’s founders, Toni Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family.” revealed Google CEO Larry Page about the deal.
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 on more countries and fulfill their dreams!” he said.
We’re thrilled to join Google with their support, Nest will be even better placed to build simple, thoughtful devices that make life easier at home, and that have a positive impact on the world.” Nest co-founder and CEO Tony Fadell said.
There are concerns by users that Google’s acquisition of Nest could increase the spying of the internet giant into people’s homes and people’s movements.
However, Nest has moved to debunk any of these notions by replying to the concerns in a Q & A present on its website.
Our privacy policy clearly limits the use of customer information to providing and improving Nest’s products and services. We’ve always taken privacy seriously and this will not change.” it said.
Nest will continue to retain its name and support iOS devices. The deal will be finalized after approval by regulatory commissions.
Source: Google, Nest

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