Against 3.2 billion dollars
Google announced an agreement to purchase Nest Labs, a thermostat manufacturer, for $3.2 billion in cash, continuing a series of recent acquisitions.
As it became known, the agreement is expected to be completed within the next few months.
Nest Labs, founded by two former Apple executives, produces a "smart" thermostat that can "learn" from user behavior and activity and understand whether or not there are people inside a building, using sensors to detect temperature, humidity, light, etc.
As stated in a relevant Google announcement, Nest's mission will be to reinvent devices that are not particularly popular but play an important role in the home, such as thermostats and smoke detectors.
“Nest founders Tony Fandel and Matt Rogers have built an incredible team that we’re excited to welcome to the Google family. They already deliver amazing products that are available to buy – energy-saving thermostats and smoke and carbon monoxide detectors that keep your family safe,” said Google CEO Larry Page.
For his part, Tony Fandel, CEO of Nest, expressed his joy, as, "with Google's support, Nest will be able to build simple, smart devices that make life easier at home.".
The company will continue to operate under Fandel's direction, and with its own, distinct corporate brand.
It is noted that Fandel was the head of Apple's music division until 2008. He is known as the "father of the iPod", and was also involved in the hardware design of the original iPhone.
Source: naftemporiki.gr
