Google turns up the heat on connected devices, snags Nest for $3.2 billion

Just last month we ran a piece about Google’s rumored plans to dip it’s toes into perfectly temperature-regulated waters of the smart thermostat game. For a moment it seemed like the company was interested in developing its own device, but it now appears that it has taken a different route: On Monday, Google bought up Nest – the pioneer and leader in the smart thermostat game – for a cool $3.2 billion dollars.

The news of this acquisition comes just weeks after Nest was valued at over $2 billion. It seems that Google believes they’re worth much, much more.

In a statement about the purchase, Google CEO Larry Page commented that “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, founder and CEO of Nest (and former Apple exec) responded to the acquisition by saying, “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.”

According to the official satement, Nest will “continue to operate under the leadership of Tony Fadell and with its own distinct brand identity,” but only time will tell if the acquisition will yield positive results.

What are your thoughts on Google’s purchase? Sound off on the comments below.

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