Google acquires smart thermostat maker Nest Labs for $3.2 billion
google nest

Google has acquired Nest Labs, makers of the Nest smart thermostat and fire alarm for $3.2 billion in cash according to an official announcement by the company's Investor site. In the statement, Google said that Fadell will become a Google employee and will continue to run Nest Labs,

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

Fadell added,

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.

Nest Labs was founded by Tony Fadell who was the Senior Vice President of the iPod Division at Apple Inc. Google have previously invested in the company through Google Ventures.