Google officially acquires Nest

Google’s acquisition of Nest Labs is now complete. A filing with the Securities and Exchange Commission said the deal officially closed on February 7th “for a total purchase price of $3.2 billion in cash.” Google apparently already had a 12% interest in the company and they believe with Nest “will enhance Google’s suite of products and services and allow Nest to continue to innovate upon devices in the home.”

Nest has two products in-market, the Nest Learning Thermostat and the recently launched Nest Protect Smoke Detector (both available in Canada). There’s no indication of what the next products are, potentially a fridge, light switches or maybe the connected stove. In addition, for now, Nest will operate independently and Google’s Android OS will not appear on its devices. Tony Fadell, Nest CEO, previous stated that Nest will have “its own distinct brand identity.”

Source: SEC
Via: CNet