Google Acquires Nest Labs for $3.2B

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Nest Labs, the manufacturer of the popular internet-connected Nest thermostat, has been acquired by Google for $3.2 Billion in cash. Google Ventures already was an investor in Nest, so the acquisition wasn’t too surprising. What does that mean for all of us? Google will be in millions more of our homes now. I suspect that this will catapult the Internet of Things, which has already been Android heavy, as demonstrated at CES last week. Nest had been rumored to be in talks with Apple, as the device is very much Apple-esque in design – simple and aesthetic. The real value behind the purchase is in it’s founder, Tony Fadell. He was behind Apple’s iPod and the early iPhone. If Google’s lucky, he will stick around and have his hand in the design of the rest of Google’s hardware suite.



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