The U.S. Federal Trade Commission has given Google its stamp of approval, clearing the way for it to purchase Nest much earlier than previously expected.
Typically, when a company files for a large merger or acquisition, it’s first subject to a 30-day waiting period. This gives the FTC and the Antitrust division of the Department of Justice a bit of time to consider whether or not the acquisition is anti-competetive, and then decide to approve or deny the transaction. Usually this process takes about a month, but the FTC has opted to grant Google an “early termination” to its review of the deal. Under the Hart-Scott-Rodino Act, the FTC can grant early termination if they see no reason to take any action during the waiting period – which it didn’t in this particular instance.
This means the deal will go through sooner than expected, which is definitely good news for Google. According to reports, Google plans to position Nest’s technology and team as its “core hardware group” moving forward.
- Best Google Home and Google Nest deals for August 2022
- Google Nest Hub just got a massive price cut for Prime Day
- Google’s Nest Mini Echo Dot rival is $30 at Walmart for Prime Day
- Building a smart home? You need this Nest Thermostat Prime Day deal
- Amazon is having a sale on Google products – save on Pixel 6 and more