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Google purchases Nest for $3.2 billion


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#1 Roger H.

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Posted 13 January 2014 - 21:09

Oh snap! :p

 

 

Google has just purchased Nest Labs, the maker of the Nest Learning Thermostat for $3.2 billion in cash.

Google CEO Larry Page said the following in a statement:

 


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!

Developing...

 

 

 

Source: http://www.theverge....for-3-2-billion

 

Press Release:http://investor.goog.../2014/0113.html

 

 


 

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.




#2 Nick H.

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Posted 13 January 2014 - 21:15

For the less-knowledgable among us (I don't really get in to...thermostats?) what does the company bring to the table? I imagine quite a bit considering the payment.

#3 OP Roger H.

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Posted 13 January 2014 - 21:17

Engineering more than likely. These are all hardware engineers for the most part. Probably some patents here and there too. The thermostat is a awesome device for what it does.



#4 jerzdawg

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Posted 13 January 2014 - 21:17

These are great for remote home management (adjust heat/ac) while away from home.  I'd love one of these but the price point it a bit high for me. 



#5 Ironman273

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Posted 13 January 2014 - 21:19

I've "almost" picked one up for the last 3 months or so...



#6 Nogib

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Posted 13 January 2014 - 21:20

I don't really understand Nest.  I don't need to spend $129 on a smoke detector.  Cheapest ones on the planet still tell me when there is a fire after all.



#7 +patseguin

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Posted 13 January 2014 - 21:20

I've had the thermostat for nearly 2 years and it's some of the most amazing technology in my home.



#8 Ambroos

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Posted 13 January 2014 - 21:21

Hah. Nest. Always a bit weird to hear.

 

As a brand they wouldn't do well in Belgium. Nest is basically slang-Belgian for garbage.



#9 Deactivated.

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Posted 13 January 2014 - 21:24

For the less-knowledgable among us (I don't really get in to...thermostats?) what does the company bring to the table? 

Tony Fadell, one of the fathers of the iPod.



#10 Astra.Xtreme

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Posted 13 January 2014 - 21:25

Tony Fadell, one of the fathers of the iPod.

Yup, they might be looking to capitalize on some of their "Apple" knowledge.



#11 Nick H.

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Posted 13 January 2014 - 21:27

Tony Fadell, one of the fathers of the iPod.

Many a person has been a "one hit wonder." While his contribution is noteworthy, that isn't to say that anything may come from it.
But with that said the money suddenly makes a bit more sense, both with your comment about being one of the fathers of the iPod and Roger's input about having a great engineering team.

This will be interesting to keep tabs on.

#12 redavenger

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Posted 13 January 2014 - 21:39

NOOOOOOOOOOOOOOOOoooooooooooo



#13 OP Roger H.

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Posted 13 January 2014 - 21:40

Tony Fadell, one of the fathers of the iPod.

 

Forgot to mention that in my original post but that was what my lil "oh snap" comment was about. Apple Engineers now working for Google.



#14 +Audien

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Posted 13 January 2014 - 21:42

So now Google knows when you're at home, when you wake up/go to bed, and more.  Lovely... :p



#15 Steve B.

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Posted 13 January 2014 - 21:50

And thus, the Nest thermostat never leaves the USA.