Google has acquired Nest, the makers of smart thermostat and smoke detector, for $3.2 million. This is the second biggest acquisition for Google after it bought Motorola mobility for a whopping $12.5 billion.
Nest startup began in 2011 with Nest learning thermostat, a smart device that learns your habits and helps you save energy. Then another product was launched- Nest Smoke Detector and carbon monoxide alarm that provided a host of features including app connectivity. Both of the nest products provide app support where you get low battery or alarm trigger notifications right on your smartphone. Nest has already raised $80 million from Google Ventures, Generation Investment Management, Kliener Perkins, Lightspeed Venture Partners and Shasta Ventures.
– Larry Page, CEO of Google
“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.”
– Tony Fadell, CEO of Nest
The founders of Nest are former Apple employees Tony Fadell and Matt Rogers. Fadell is well known as the brains behind Apple’s revolutionary iPod. Nest will continue to provide its services to its new and old customers under the same brand name and current leadership of Fadell. With more innovative talents in the workforce, Google plans to bring smarter interactive home systems that integrate well with its app ecosystem.
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