Google acquires smart thermostat maker Nest for $3.2 billion in cash

According to a developing report from Bloomberg, Google is acquiring Nest Labs, the company behind Nest smart thermostats and fire alarms. 

Google has confirmed the transaction and purchase price of $3.2 billion in cash Google an official announcement on its Investor website. In the statement,..

Google confirms that Nest founder and father of the iPod Tony Fadell will indeed be staying on board as a Google employee:

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. They’re already delivering amazing products you can buy right now–thermostats that save energy and smoke/CO alarms that can help keep your family safe. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!”

Tony Fadell, CEO of Nest, said: “We’re thrilled to join Google. With their support, Nest will be even better placed to build simple, thoughtful devices that make life easier at home, and that have a positive impact on the world.”

Source:http://9to5mac.com/2014/01/13/google-acquires-smart-thermostat-maker-nest-for-3-2-billion-in-cash/