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.
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| 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.
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Google to acquire Nest Labs for $3.2 billion