Google Acquires Nest Labs for $3.2 billion

Google announced today that it will acquire Nest Labs, Inc. for $3.2 billion in cash.

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Courtesy: Nest

Nest Labs, founded in 2011 by Tony Fadell and Matt Rogers, currently sells two products: the Nest Thermostat and the Nest Protect.

The Nest Thermostat is an Internet-connected thermostat that can be controlled from anywhere with a mobile app or the Nest website. It learns your habits and saves energy by adjusting heat and air conditioning based on your presence. Nest claims that its thermostat can save you up to 20% on your heating and cooling bills.

The recently-launched Nest Protect is a smoke/carbon monoxide detector that aims to take the annoyance out of protecting your home. Instead of chirping, the Protect talks to you, telling you where there is danger and allowing you to silence alarms with the wave of a hand.

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!

-Google CEO, Larry Page

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