Google is moving further into the 'Internet of Things' with its latest acquisition. It's agreed to buy Nest Labs - a company best known for its intelligent wireless thermostat - for $3.2 billion (just under £2 billion). Nest has recently introduced its second product: a 'connected' smoke and carbon monoxide alarm.
Larry Page, CEO of Google, said “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!”
The deal is expected to be finalised in the next few months, with Nest continuing to operate as a separate brand under the leadership of current CEO Tony Fadell.