Google agrees to acquire Nest Labs for $3.2 billion

Google agrees to acquire Nest Labs for $3.2 billion

With taking a step towards new developments, Google has announced to acquire Nest Labs for $3.2 billion. California-based Nest Labs is the popular maker of a learning thermostat and also launched Protect smart smoke detector last year.

Google Nest

Google to acquire Nest Labs for $3.2 billion

On announcing the acquisition of Nest, 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!”

Nest Labs founded by former Apple executive Tony Fadell. The acquisition is said to accelerate Nest growth across hardware, software and services for the home globally. With the efforts by Google, the concern will make “a difference and together”.

Commenting on the acquisition, 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.”

The acquisition will not lead to the closure of Nest operations and the concern will still be headed by Fadell. The transaction is expected to close in the next few months.

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