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Google buys smart thermostat maker Nest for $3.2 billion

google-buying-nest-for-32-billionGoogle has acquired Nest, a company that makes a home thermostat that can be programmed from mobile phones, for US$3.2 billion in cash, Google said on Monday.

The founders of Nest, Tony Fadell and Matt Rogers, “have built a tremendous team that we are excited to welcome into the Google family,” Google CEO Larry Page said.

The transaction, Google said, is expected to close in the next few months.

Nest confirmed the deal with a Twitter message, saying “Nest will stay Nest.” Nest launched in 2011, and will continue under the leadership of Fadell, Google said.

Nest’s products include a home thermostat and a smoke and carbon monoxide alarm, which are designed to “learn” from users’ habits. “Most people leave the house at one temperature and forget to change it,” Nest says on the website of its thermostat. “The Nest Learning Thermostat learns your schedule, programs itself and can be controlled from your phone.”

Nest’s data could give Google a massive stream of information about what people do in their homes. It could also advance the company’s aims to become a stronger fixture in homes, which it is already attempting through hardware like its Chromecast media streaming device and Chromebook laptops.

 

Originally published on IDG News Service (San Francisco Bureau). Click here to read the original story. Reprinted with permission from IDG.net. Story copyright 2017 International Data Group. All rights reserved.
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