Google has acquired Nest, the business behind the smart thermostat and smoke detector, for $3.2 billion.
“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," Larry Page, cofounder and CEO of Google, said in a statement. "We are excited to bring great experiences to more homes in more countries and fulfill their dreams!”
Nest, which was founded by Tony Fadell, a former Apple employee who is credited with being the brains behind the iPod, will continue to be a standalone brand under Google.
“We’re thrilled to join Google," Fadell said in a statement. "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 recently raised $150 million in funding and was valued at $2 billion.
Google stock was up slightly in after hours trading.
This story is developing...
Image: Nest