Google agreed to buy Nest Labs, Inc. for $3.2 billion in cash, maker of programmable thermostats and smoke/carbon monoxide (CO) alarms.
Nest says its mission is to reinvent "unloved" home products. The company launched in 2011 with the Nest Learning Thermostat, which can be controlled from a smartphone, and is designed to "learn" the homeowner's schedule and adjust HVAC operation accordingly.
In October of 2013 the company launched the Protect smoke and CO alarm. The unit decreases nuisance alarms, such as those caused by wok cooking, by providing an early warning. An alarm on the unit will alert the user's smartphone.
The smoke/CO alarm interfaces with the company's thermostat. If a CO alert is sensed the unit will turn off the gas furnace, which is a possible source of a CO leak. Activity sensors can improve the Auto-Away feature of the thermostat.
"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," said Google CEO Larry Page. "We are excited to bring great experiences to more homes in more countries.”
“With (Google's) 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," said
Nest CEO Tony Fadell.
Nest will continue to operate under Fadell and will retain its distinct brand identity. The transaction is expected to close in a few months.
to Daily News