Google Acquires Nest Labs for $3.2 Billion


By RS Staff January 14,2014


Google Inc. has entered into an agreement to buy Nest Labs, Inc. for $3.2 billion in cash.

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.

0 Comments

Add Comment

Text Only 2000 character limit
Enter the word as it is shown in the box below: (Why?) (case sensitive)
Why Everyone Needs Music in their Home
Read More»
Don’t Skimp on Training When You Add a New Brand or Technology Category
Read More»
21st Century Distributing Expo Engages Dealers
Read More»
Don’t Let Little White Lies Become Big Dark Lies
Read More»
To Defy Moore's Law of Electronics
Read More»
Slide Show
Slide Show

Audio Video Systems, Plainview, NY
Slide Show

Station Earth, Fergus, Ontario, Canada
Slide Show

Audio Command Systems, Westbury, NY
Slide Show

Evolution Video and Sound, Calgary, Alberta, Canada