Just when you thought the end of CES meant you had a bit of breathing room, Google drops a bombshell on the tech community. They’ve come to an agreement to acquire Nest, of elegant thermostat fame. They’re paying 3.2 billion USD in cash for the acquisition of Nest Labs Inc, which will join the Google family but will retain its own corporate brand identity.
From the press release, 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!”
Tony Fadell, CEO of Nest, 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.”
Welcome back from CES, everyone!