Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Nest/YouTube
ch-ching

Google to buy Nest for $3.2 billion in cash

The co-founder of Nest said that any data provided by customers will only be used for its products and services and not shared with Google.

GOOGLE HAS ANNOUNCED it will be buying smart thermostat company Nest Labs for $3.2 billion in cash.

The company, which created the Nest thermostat and Protect smoke alarms, will continue to operate as normal and the deal is expected to close in the next few months.

The co-founder and VP of Nest Labs, Matt Rodgers, said in a Q&A that users’ data will not be shared with Google and will only be used for the company’s products and services.

Our privacy policy clearly limits the use of customer information to providing and improving Nest’s products and services. We’ve always taken privacy seriously and this will not change.

Nest’s CEO and co-founder Tony Fadell said on the Nest blog that the deal will help it  ”fully realise our vision of the conscious home and allow us to change the world faster.”

In a statement announcing the deal, the CEO of Google Larry Page 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 fulfil their dreams!

The deal has not mentioned how the two companies will work together, although Google had been one of the company’s main investors since May 2011, having invested $100 million in Nest so far.

Nest Labs specialises in creating smart objects for households. Its most famous product is the Nest thermostat, which learns your daily routine so it knows when to adjust the temperature in your house. It claims to save up to 20 per cent on heating bills and is available in the US, Canada and the UK.

(Video: Nest/YouTube)

Read: Gmail change will soon allow anyone on Google+ to email you >

Read: Google teams up with automakers to bring Android to cars >

Your Voice
Readers Comments
21
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.