The Nest brand of smart home appliances will live on, under Tony Fadell’s leadership, as it always has been, but under the watchful eye of the Google banner, thanks to the recent and sweet purchase of $3.2 billion — in cash. The transaction is subject to regulatory approval, but from the looks of Google’s track record with acquiring companies, it should go past without any fuss. Keep in mind that in the past, Google Ventures had already invested over $100 million in Nest, so this was a follow-up move, more likely than not.
Nest CEO had the following to say about his company’s acquisition:
“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.”