$3.2 billion in cash for the makers of thermostats and smoke alarms
Google has announced their acquisition of Nest Labs, a company that developed and manufatures the Nest Thermostat and Nest Protect. According to the press release no changes will be made to the Nest’s leadership structure and will operate under Google’s umbrella with its brand identity.
The Nest Thermostat, priced at $249, is a self-programmable device that is capable of cooling and heating up a consumer’s home once it becomes familiar with the owner’s preferences. In addition to eliminating the need to manually adjust the temperature it will also indicate, with a green leaf symbol, whenever a change in temperature will cut the energy usage in a person’s home.
As for the Nest Protect, which is priced for $129, it is a smoke alarm device that will inform a consumer, by lighting up and speaking, whenever it is about to go off rather than immediately sound an alarm. This gives the consumer enough time to stop it from sending out a false alarm by simply waving their hand at it.
Both devices can be operated by an app to adjust the temperature or receive a notification about smoke and CO detection while also capable of working together.
Despite being acquired by Google, Nest Labs co-founder Matt Rogers assured owners that the company will maintain their support of iOS, Android, and modern web browsers. Product warranties will also continue to be valid.
No information was provided as to how Google’s products and services will be incorporated into Nest and its devices.
Closure of the sale will take place within the next few months.
But is Google making a smart purchase by spending $3.2 billion on Nest Labs?
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