Google has announced it has agreed to acquire Nest for $3.2 Billion. Nest Founder and CEO Tony Fadell was formerly senior vice president of Apple’s iPod division, and has been referred to as the “father of the iPod.” The company is best known for its Nest Learning Thermostat, and recently released its Nest Protect Smoke + Carbon Monoxide Detector. Apple currently sells both products online and in its retail stores. Nest will continue to operate under Fadell with its own brand identity. The deal is expected to close “in the next few months.”
Google CEO Larry Page said in a statement, “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!”
Fadell said in the same statement, “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.” Reports suggested that Fadell left Apple on less than fond terms, and Nest has continued to hire former Apple engineers to work on its products.
