Google Buys Nest for $3.2 Billion in Cash

Nest-thermostat
Google has entered into an agreement to acquire Nest, the business behind the smart thermostat and smoke detector, for $3.2 billion in cash.

“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,' Larry Page, cofounder and CEO of Google, said in a statement. 'We are excited to bring great experiences to more homes in more countries and fulfill their dreams!”

See also: How Nest and Smart Technologies Are Re-Inventing Climate Control
Nest was founded by Tony Fadell, a former Apple employee who is credited with being the brains behind the iPod, in 2010. Fadell will continue to run Nest and the company will operate as a standalone brand under Google.

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