Google Buys Nest for $3.2 Billion

Google just purchased Nest, a maker of high quality and smart Thermostats ans Smoke Detectors for $3.2 Billion in Cash. Nest was founded by Tony Fadell, a former Apple 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!”

CEO of Nest, Tony Fadell said in a 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.”

It has been assumed that Google have had a good relationship with Nest, thats why Google invest such a huge amount in Nest to increase its venture. According to a blog post published on Nest website (https://nest.com/blog/2014/01/13/welcome-home/) – “This decision wasn’t made on a whim – Google has been in the mix in some way or another for about three years of our almost four-year history. In fact, my first meeting with Google as a Nester was before we’d launched. At the 2011 TED Conference, Erik Charlton and I huddled in a corner with Sergey Brin to show him a video and an early model of the Nest Learning Thermostat – he instantly got what we were doing and so did the rest of the Google team when we showed them. In May 2011, Google Ventures led our Series B round of financing, and in 2012, Series C. Time and time again, Googlers have shown themselves to be incredibly like-minded, supportive and as big of dreamers as we are. I know that joining Google will be an easy transition because we’re partnering with a company that gets what we do and who we are at Nest –and wants us to stay that way. ”

Rogers also confirmed that Nest will continue to support iOS even after joining Google nd Nest products will still continue to be sold at retail.