Monday 13 January 2014

Google buying Nest for $3.2 billion

The Nest Learning Thermostat has a new software update that boosts the device's efficiency and which could help increase users' comfort while lowering their power bills.
(Credit: Nest)
According to Nest, the maker of the learning thermostat and the smart smoke and carbon monoxide detector will continue to run under the leadership of current CEO Tony Fadell.
Nest said today that it has been acquired by Google for $3.2 billion.
In a statement, the maker of the Nest Learning Thermostat and the Protect smoke and carbon monoxide detector, said that the company will continue be run by current CEO Tony Fadell. "In other words, Nest will stay Nest," the company said.
"Why did we decided to partner with Google," Fadell wrote in a blog post? "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.

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