Update on June 2o, 2014: It has happened, Google’s Nest will indeed acquire Dropcam. Click here to find out more about the details.
According to a recent report from The Information, Google has expressed interest in purchasing Dropcam, a cloud-based video monitoring service. Getting its hands on Dropcam would help Google take an even bigger step into the home security market, following its recent $3.2 billion acquisition of Nest Labs, creator of smart thermostats and smoke detectors.
It is unclear where both companies stand on this potential acquisition, but Google’s Nest division has reportedly considered the idea, and would be responsible for making the actual purchase. Nest’s foray into home security could be interesting to watch if they decide to go through with the purchase, and blend Dropcam’s streaming video technology with ideas of their own. Several companies are gearing up household appliances to use smart technology, but Google could be the first to attempt a fully digitally integrated home – complete with Dropcam protection, of course.
If you’re unfamiliar, Dropcam is essentially a Wi-Fi enabled digital camera that can used to monitor your home. The device offers two-way audio functions, remote monitoring, and cloud-based recording and storage features. Having raised almost $50 million in its five-year history, it’s clear why Dropcam has caught Google’s eye. Dropcam, which touts its products as easy to use, would fit nicely into Nest’s similar outlook.
Home security seems like a natural move for Nest. Given the automation options already afforded by Nest’s products, an interwoven security system would be a logical next step, and would help the company break into the billion-dollar U.S. home security market. Additionally, since Dropcam is already a successful product, acquiring the company would mean less work at the drawing board for Google.
This supposed acquisition could see Google and Apple indirectly partnering up again. According to TechCrunch, Google’s focus will be on building a hardware network of smart home devices, while Apple could be working on a software platform to support it. The two tech giants recently agreed to end their smartphone patent wars, which could be a good sign of things to come.