Google acquires thermostat-maker Nest Labs for $3.2 billion

By Kyle Johnson,

Google announced on Monday that it had acquired Nest Labs for $3.2 billion not long after the company was valued at $2 billion.

Nest makes smart thermostats and fire detectors that can connect to the internet and the founder, Tony Fadell, was involved in the creation of the Apple iPod, Wired reports.

With Google now backing the company, Fadell wrote in a blog post, that the company "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."

PC Magazine reports that Nest Labs was founded in 2011 and though Fadell was involved in the iPod, their thermostats don't have a direct connection to the Apple devices. The thermostats can be controlled via Wi-Fi by any iOS device though.

Wired notes that the Nest thermostat can learn how users best like their thermostat set throughout the day, which is aimed at helping consumers save some money. The company's devices are popular and helped Nest to raise $150 million in funding earlier in January.

image: Amazon



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