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Google purchases Nest for $3.2 billion

Nest Labs acquired by Google for $3.2 billion
Nest Labs acquired by Google for $3.2 billion
Nest Labs

On Monday, Google announced in a press release that it will be purchasing Nest Labs for $3.2 billion.

Google has already been delving into making homes "smarter", allegedly developing its own smart thermostat, much like the one developed by Nest Labs. According to the CEO of Nest Labs, Tony Fadell, "Google has been in the mix in some way or another for about three years of our almost four-year history. In fact, my first meeting with Google as a Nester was before we'd launched."

In a blog post, Fadell reveals why Nest decided to partner with Google:

Google will help us fully realize our vision of the conscious home and allow us to change the world faster than we ever could if we continued to go it alone. We've had great momentum, but this is a rocket ship. Google has the business resources, global scale, and platform reach to accelerate Nest growth across hardware, software, and services for the home globally.

In a press release from Google, CEO Larry Page 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!

With Google's extensive resources, Nest Labs will be able to advance beyond its competitors, such as Honeywell. From what it sounds like in a blog post written by Nest Labs founder Matt Rogers, there will be very little changes to the way Nest is run, and this acquisition by Google is more like a partnership.

What do you think about Google expanding into your home? Leave your thoughts in the comments section below!

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