Google Enters Agreement to Acquire Nest
Nest, the company that brought home technology enthusiasts the Nest Learning Thermostat and the Nest Protect combination smoke alarm and carbon monoxide alarm, has agreed to be acquired by Google. While a final acquisition date has not been announced, Google has reported that the transaction is expected to close in a few months, pending customary closing conditions. Google will purchase Nest for $3.2 billion in cash. Tony Fadell, CEO of Nest, stated that the Nest team is excited to join Google and that Nest will be in an even better position than before to provide devices to users in order to make their life at home easier. If the acquisition is approved, Nest will continue to operate under its current CEO and remain as its own brand.
Source: Press Release