Google Buys Nest for 3.2 Billion Dollars
Google made their second biggest acquisition since Motorola ($12.5 Billion) yesterday when they agreed to buy Nest for a massive 3.2 Billion dollars. Nest is the maker of a family of iPhone-controlled smart thermostat and smoke and carbon monoxide detector devices for connected homes. Nest recently funded $80 Million in venture funding, which makes this acquisition one of the most successful acquisitions for a silicon valley start-up.
Nest will continue to operate independently of Google and won’t share customer data with them. Nest was founded by the brilliant engineer Tony Fadell who used to work at Apple where he was charged with the iPod music player project. CEO Tony Fadel called Google “a rocket ship” that will help a great deal fulfil Nest’s vision of of the conscious home a lot faster.
We can only imagine what type of plans Google may have for Nest. Imagine a Google run home-based system where your kettle, oven, TV, lights and washing machine is all managed/run by Google. Would this mean I will have to auto join Google+ when I burn my toast?
Big news! @Google acquiring Nest to help fulfill our goal of reinventing unloved home products. Nest will stay Nest. http://t.co/0L8hNBhmYc
— Nest (@nest) January 13, 2014
