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Google to acquire Nest for $3.2 billion in cash
01-13-2014, 04:56 PM
Post: #1
Google to acquire Nest for $3.2 billion in cash
[Image: screen-shot-2012-10-02-at-9-40-02-am.png?w=870]


Google on Monday announced that it has reached a deal to acquire Nest Labs, the connected thermostat maker founded by former Apple executive Tony Fadell. The all-cash deal will cost Google $3.2 billion. “Nest’s founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family,” Google CEO Larry Page said. “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 Fadell’s leadership. Google’s press release follows below.

Quote: MOUNTAIN VIEW, CA – JANUARY 13, 2014 — Google Inc. (NASDAQ: GOOG) announced today that it has entered into an agreement to buy Nest Labs, Inc. for $3.2 billion in cash.

Nest’s mission is to reinvent unloved but important 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!”

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.”

Nest will continue to operate under the leadership of 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.

Never underestimate the power of human stupidity.
- Robert A. Heinlein
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01-14-2014, 02:15 AM
Post: #2
RE: Google to acquire Nest for $3.2 billion in cash
well this sucks. i was really, really interested in their thermostat products... thanks, but no... google lost my support when they decided to redefine evil.

"Yeah. I understand the mechanics of it, shithead. I just don't understand how this is any less retarded than what I'm suggesting." - Kiley; Housebound.
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01-14-2014, 03:55 PM
Post: #3
RE: Google to acquire Nest for $3.2 billion in cash
Nest was started by former Apple employees.
Their Wi-Fi connected Internet thermostat has contributed to redefining modern home automation.
It has a proximity detector to sense if there are people present in the room,
and it learns and programs itself when users turn the room temperature up and down.
Google's purchase of Nest indicates that Google is moving into the home automation market.

Never underestimate the power of human stupidity.
- Robert A. Heinlein
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