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Google acquires Nest for $ 3.2 billion
(US) - Google Inc. announced the acquisition of the smart thermostat manufacturer Nests Labs Inc. for $3.2 billion.
(US) Nests was launched in 2011, from an idea of Tony Fadell and Matt Rogers which
reinvented thermostats and smoke alarms, important but unloved and unnoticed devices inside every house, into an opportunity to save energy and money, with an eye for design. The company now employs more than 300 people and collaborates with more than 25,0000 certified installers.
The Nest Learning Thermostat has been a best-seller among smart home thermostats, and the recently launched Protect, a Wi-Fi connected smoke and carbon monoxide alarm, as received favorable reviews.
Larry Page, CEO of Google said: “ Nest’s founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family. We are excited to bring great experiences to more homes in more countries and fulfill their dreams.”
Tony Fadell, cofounder and CEO of Nest , wrote in his blog: “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” and he continues “ Google has the business resources, global scale and platform reach to accelerate Nest growth across hardware, software and services for the home globally”.
However, the founders of Nest have pointed out that: “Nest will continue to be Nest, with its own distinct brand identity” and Matt Rogers, cofounder and vice president of engineering at Nest, adds -“We’re looking forward to continuing our great partnership and remain devoted to you above all else”- referring to the customers that will continue to be Nest’ focus.
This acquisition is Google’s second largest after its $9.4 billion acquisition of Motorola Mobility in 2012, and highlights the growing importance of the Thermostat market which was worth an estimated $190 million in the Americas in 2013.
reinvented thermostats and smoke alarms, important but unloved and unnoticed devices inside every house, into an opportunity to save energy and money, with an eye for design. The company now employs more than 300 people and collaborates with more than 25,0000 certified installers.
The Nest Learning Thermostat has been a best-seller among smart home thermostats, and the recently launched Protect, a Wi-Fi connected smoke and carbon monoxide alarm, as received favorable reviews.
Larry Page, CEO of Google said: “ Nest’s founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family. We are excited to bring great experiences to more homes in more countries and fulfill their dreams.”
Tony Fadell, cofounder and CEO of Nest , wrote in his blog: “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” and he continues “ Google has the business resources, global scale and platform reach to accelerate Nest growth across hardware, software and services for the home globally”.
However, the founders of Nest have pointed out that: “Nest will continue to be Nest, with its own distinct brand identity” and Matt Rogers, cofounder and vice president of engineering at Nest, adds -“We’re looking forward to continuing our great partnership and remain devoted to you above all else”- referring to the customers that will continue to be Nest’ focus.
This acquisition is Google’s second largest after its $9.4 billion acquisition of Motorola Mobility in 2012, and highlights the growing importance of the Thermostat market which was worth an estimated $190 million in the Americas in 2013.
