Google picks up smart-device maker Nest for $3.2 billion


Google has reached a deal with Nest, the smart-device manufacturer responsible for an intelligent thermostat and smoke detector, acquiring the company for the sum of $3.2 billion in cash.

The purchase of Nest was announced by a Google investor release, where it was confirmed that current Nest CEO  Tony Fadell will remain in charge of the company. The branding for the smart-device company won’t be changing either but Google hasn’t revealed what it is that they want with the company.

Google CEO Larry Page did say “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!”

That… still doesn’t tell us any about why Google wants them but we’ll probably find out soon enough. Perhaps with an AdWords scheme attached.

Source: The Verge


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