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Google announced that it will be purchasing Nest Labs, Inc. for $3.2 billion in cash. Nest makes automated and connected household devices such as smoke alarms and thermostats. Nest’s thermostats can be controlled with smart phones and adapt to user behavior.
Larry Page, CEO of Google, said in a press release, “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!”
Though owned by Google, after the sale is complete Nest will continue to operate with its current management.
The purchase isn’t the first hardware purchase for the search giant, Google purchased Motorola Mobility in 2012.