Google yesterday announced that it will acquire Nest Labs, Inc. for $3.2 billion in cash. Nest is a home automation company that makes smart home appliances. Its first products are the thermostat and smoke alarm which have been reinvented to look good and to be Wi-Fi enabled, self-learning and programmable. Here's a link to the Google press release: https://investor.google.com/releases/2014/0113.html
Here's a link to the Nest blog post discussing the acquisition:
https://nest.com/blog/2014/01/13/welcome-home/
Nest has raised in excess of $80 million and was rumored to be raising a $150 million round led by DST Global that would value Nest at $2 billion. Venture capital fund investors in Nest include Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, Shasta Ventues, Venrock and Generation Investment Management. Google Ventures was also an investor in Nest.
Here's a link to Dan Primack's article on Fortune.com about the acquisition:
http://finance.fortune.cnn.com/2014/01/13/google-buying-nest-labs-for-3-2-billion/
Here's a link to the Nest blog post discussing the acquisition:
https://nest.com/blog/2014/01/13/welcome-home/
Nest has raised in excess of $80 million and was rumored to be raising a $150 million round led by DST Global that would value Nest at $2 billion. Venture capital fund investors in Nest include Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, Shasta Ventues, Venrock and Generation Investment Management. Google Ventures was also an investor in Nest.
Here's a link to Dan Primack's article on Fortune.com about the acquisition:
http://finance.fortune.cnn.com/2014/01/13/google-buying-nest-labs-for-3-2-billion/
