In other big tech news today.... Google just announced they have entered into a deal with Nest Labs, Inc., to acquire the company for $3.2 Billion in cold, hard, cash. Nest of course is the company that makes the fancy self-learning thermostat and smoke alarm systems for your home.
From the press release:
Nest’s mission is to reinvent unloved but important devices in the home such as thermostats and smoke alarms. Since its launch in 2011, the Nest Learning Thermostat has been a consistent best seller--and the recently launched Protect (Smoke + CO Alarm) has had rave reviews.
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!”
Tony Fadell, CEO of Nest, said: “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.”
Nest will continue to operate under the leadership of Tony Fadell and with its own distinct brand identity. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US. It is expected to close in the next few months.
I can't say I'm all that surprised that Nest got acquired by somebody, but it's pretty crazy to see the valuation at $3.2 Billion for a company that only launched its first product in 2011. It's also super crazy to think that back in September Fairfax put in its bid to buy BlackBerry for $4.7 Billion. Only a $1.5 Billion difference.
Whenever Google buys somebody, I always think back to 2011 and that controversial editorial I wrote on the 10 Reasons why Google will buy Research In Motion. There was a lot of logic in the reasoning at the time, and ultimately Google did buy a mobile manufacturer, but they went with Motorola instead.
Now, I'm curious, does anybody out there in CrackBerry Nation own a Nest? Like it? Love it??