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On Jan. 13, Google CEO Larry Page released a statement announcing their acquisition of Nest Labs for $3.2 billion cash.
Nest Labs will continue to operate fairly independently, but will now be under the Google umbrella. In terms of the partnership, Nest Labs will have the opportunity to grow using resources provided by the tech giant.
The deal is set to close in just a few months, and both sides are eager to start this new chapter.
Nest Labs is a Silicon Valley tech startup founded by Tony Fadell and Matt Rogers in 2010. Fadell, the “father of the iPod”, worked with Rogers at Apple before starting their venture.
The company specializes in making safe and energy efficient home gadgets such as smoke and carbon monoxide (CO) detectors and thermostats.
Both the thermostat and smoke detector are designed to be personalized and easy to use. In the first few days that you have it, it asks you questions, learns your patterns and offers suggestions about how to control the house temperature. As it learns more about you, it begins to do this for you.
After a few months, the device is performing so well that it starts “paying for itself.” The smoke detector works in a similar way.
Instead of emitting an obnoxious blare when you burn the toast, it offers a low warning signal, allowing you to calmly handle the situation. The system can also be turned off with the simple wave of your hand. Together, the products optimize the safety
of your home.
For example, if too much CO has been detected, it connects to the thermostat, which tries to fix the problem by shutting off the gas.
Currently, the Nest products can be controlled through Android and iOS devices, and will continue to be supported by both operating systems, as well as via computers web browser. By logging in to the Nest app, all functions of both the thermostat and detector can be monitored.
Notifications give warnings when the battery is low, or if Nest detects a subtle change in heat or CO. Back in 2011, Google found out about the Nest learning thermostat, and led the second series of venture funding.
Since then, they have been one of Nest’s biggest supporters including contributions to other rounds of funding, which eventually brought them to this acquisition.
Google isn’t the only one who knows the success of the Nest products. Customers have seen up to a 26 percent energy savings, and their gas bills have been cut in half. With such a great product, it is no wonder why Google would want to be a part of it.
The two independently successful companies are very excited to be working together. As partners, they will be able to take the Nest Labs product and deliver it on the global scale and platform that Google has.
Both companies know that the smart appliance field is really taking off , and while no rumors have been confirmed, we expect to see both companies’ engineers and designers collaborate on a new product one day.
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