Google $3.2 Billion Nest Deal Now Official
Google said in a regulatory filing this morning that it had closed its acquisition of Nest on Feb. 7.
Nest has always been on Google’s radar. Google Ventures, the company’s startup investment arm, was one of the Nest’s early investors. Google was previously rumored to be building a Nest thermostat competitor, and there were even leaked screenshots of a smart thermostat app built by Google called “EnergySense,” which would let you control the temperature from a smartphone or Web client.
Google is pretty famous at this point for acquiring vast amounts of data on its users, as well as sharing that data. Co-founder of Nest, Matt Rogers, said in a Q&A on the company’s blog, “Our privacy policy clearly limits the use of customer information to providing and improving Nest’s products and services.” He goes on to claim that will not change.
Nest uses complex technology to solve a problem that lots of people have on an everyday basis. That’s what Page wants to do with Google. He wants to use complex technologies to come up with simple solutions for complex problems that huge masses of people have — like controlling their climate of their homes in an energy-efficient way.
A quick finalization of the deal was expected after the Federal Trade Commission fast-tracked its approval last week.
