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Google Buys Nest, Wants To Control Everything

Colin Hale |
January 13, 2014 | 3:21 p.m. PST

Executive Producer

Nest's smart thermostat/via Nest Labs
Nest's smart thermostat/via Nest Labs
Tech giant Google announced Monday that it has purchased Nest Labs, a home automation company known for its "smart thermostats," in a deal worth over $3 billion. 

The acquisition of Nest, along with other recent acquisitions such as Boston Robotics and Motorola, points to Google's increasingly relevant strategy to develop and dominate "the Internet of Things," where everyday devices, such as appliances, cars, and other common items are connected to servers to share information, including your personal habits, maintenance issues, and more.

According to Google, the newly acquired company will continue to operate under its current leadership, led by CEO and co-founder Tony Fadell.  The deal, worth a reported $3.2 billion, is expected to be finalized soon.

Nest, which was started in 2010, is expected to keep its name, look, and branding for the forseeable future.

The home automation company, which is famous among tech and eco geeks for its smart thermostats, has recently ventured into other smart home devices, including smoke and carbon monoxide detectors.

Google's acquisition announcement on Monday comes after nearly $100 million in investments since 2010 from Google Ventures, a venture capital firm funded by Google.

Read more about Google's purchase of Nest Labs at The Verge, NPR, CITEworld, and TechCrunch.

Reach Executive Producer Colin Hale here. Follow him on Twitter.



 

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