Google to acquire Nest for $3.2 billion in cash

Home Forums Google to acquire Nest for $3.2 billion in cash

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    Anonymous

    Technology News

    A Google logo is seen at the entrance to the company's offices in TorontoBy Alexei Oreskovic SAN FRANCISCO (Reuters) – Google Inc took its biggest step to go deeper into consumers' homes, announcing a $3.2 billion deal to buy smart thermostat and smoke alarm-maker Nest Labs Inc, scooping up a promising line of products and a prized design team led by the “godfather” of the iPod. Nest will continue to operate as its own distinct brand after the all-cash deal closes, Google said on Monday. The deal is the second largest in Google's history after the $12.5 billion acquisition of mobile phone maker Motorola in 2012. “Nest Labs appears to be focused on thermostats and smoke alarms, but it's not far-fetched to see Google expanding this technology into other devices over time,” said Shyam Patil, an analyst at Wedbush.


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