bit-tech.net

Google buys Nest for $3.2 billion

Google buys Nest for $3.2 billion

Nest Labs, creator of the eponymous Nest thermostat and new Nest Protect smoke alarm, is soon to be a wholly-owned subsidiary of Google.

Advertising giant Google has announced that it is to acquire smart thermostat creator Next Labs for a whopping $3.2 billion, as the company looks to become more involved in the Internet of Things (IoT).

Nest Labs, co-founded by former Apple designer Tony Fadell, generated considerable interest in the US when it launched an eponymous network-connected thermostat. Able, the company claimed, to automatically program itself, allow remote control from smartphones and tablets, and to lower heating and cooling bills by up to 20 per cent, the neatly-designed gadget took off.

Recently, the company announced a smoke and carbon monoxide alarm dubbed Nest Protect as well as the availability of the original Nest outside the US, but its delayed international launch has allowed competitors to sneak into the market, including British Gas's markedly similar Hive platform.

That hasn't stopped Google plopping down $3.2 billion in cash for the company, however. 'Nest’s founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family,' claimed Google chief executive Larry Page of the acquisition. '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 fulfil their dreams.'

Google has pledged to allow Nest to continue under Fadell's leadership and with its own brand identity despite the new ownership, and promises that development of the iOS Nest app will continue. Meanwhile, Fadell has attempted to allay privacy concerns by stating that personally identifiable Nest customer data - such as when the thermostat is active, providing clues as to the habits of its owners - will not be shared with Google's advertising divisions.

4 Comments

Discuss in the forums Reply
Corky42 14th January 2014, 11:45 Quote
Quote:
will not be shared with Google's advertising divisions.
Yet.
Snips 14th January 2014, 12:00 Quote
Quote:
Originally Posted by Corky42
Quote:
will not be shared with Google's advertising divisions.
Yet.

It's quite a sad thing that they have to put that in a statement.
Gareth Halfacree 14th January 2014, 12:07 Quote
Quote:
Originally Posted by Snips
It's quite a sad thing that they have to put that in a statement.
Worryingly, Google didn't: it was Fadell who responded to concerns by claiming that the existing Ts&Cs, which appear at a casual glance to prevent such use of personally identifiable data, won't change.
Corky42 22nd May 2014, 10:42 Quote
Google ads could be coming to thermostats, refrigerators and car dashboards (update)
http://www.engadget.com/2014/05/21/google-ads-odd-places/
Quote:
In a letter to the Securities and Exchange commission concerning mobile revenue disclosure, the folks in Mountain View said flashing ads and services on "refrigerators, car dashboards, thermostats, glasses, and watches" is quite plausible.
Google offered the following comment on the matter.
Quote:
""We are in contact with the SEC to clarify the language in this 2013 filing, which does not reflect Google's product roadmap. Nest, which we acquired after this filing was made, does not have an ads-based model and has never had any such plans."
I love the way they say at present it doesn't have ads, and then say never had plans.
Not ruling anything out for tomorrow then Google ;)
Log in

You are not logged in, please login with your forum account below. If you don't already have an account please register to start contributing.



Discuss in the forums