If seeing hundreds of exhibitors at the 2014 International CES wasn’t credit enough to the movement called “the internet of things” than maybe Google’s $3.2 billion dollar purchase of Nest Labs is.
Google announced on Monday that they acquired Nest Labs and their team led by Tony Faddell and Matt Rogers.
Nest Labs created the $250 Nest thermostat that connects to your smartphone via an app. It also learns your behavior over time and adjusts the temperature in your home accordingly. Making you more comfortable and hopefully saving you money at the same time. The company has also released a smart smoke and carbon monoxide detector that also syncs with the Nest app and the Nest thermostat.
Google isn’t a stranger to Nest Labs. Through their VC arm, Google Ventures, the internet giant had invested in Nest’s previous rounds of funding totaling over $240 million. Many tech sites reported that Nest had gone back to raise another round of funding, but as it turns out they went for the acquisition deal instead.
What’s curious to some is that Tony Faddell was an Apple man before branching out on his own with the Nest thermostat. Faddell is credited with designing the original iPod under Steve Jobs. Faddell reportedly worked with Apple as a contractor while the iPod was still a side project. Jobs reportedly brought Faddell into the company to launch the first iPod but as the iPhone started permeating Faddell got sidelined in favor of Scott Forstall and Jony Ive. Now, Google has the man who created one of the best selling consumer electronic devices of all time working for them.
“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!” Google Co-Founder and CEO Larry Page said in a statement
Google has branched out over the years from being just an internet and search company. They first got their feet wet with hardware in a partnership with HTC for the very first Google Nexus One. There are now five iterations of the Nexus phone and several iterations of the Nexus tablet. Google also acquired Motorola two years ago and has continued to produce Android smartphones through their Motorola arm.
Google also launched Google Glass 18 months ago to developers and early adopters. They will hopefully release Google Glass to the masses this year. They are also rumored to be working on a smart watch that will release this year.
Nest will remain for the most part independent with Tony Faddell still at the helm. “We’re thrilled to join Google. With their support, Nest 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.” Faddell said.