Google Reportedly Acquires Nest Labs for $3.2 Billion
Google is once again taking a page from Apple’s play book by taking aim at the thermostat.
As some will recall, Nest Labs’ first product - the famed Nest Learning Thermostat – was once a product you could only get at the Apple Store. Apple’s willingness to sell the Nest product was certainly aided by the fact that Nest was founded by Tony Fadell and Matt Rodgers, two former Apple employees.
Well, today, the close relationship between Nest and Apple may have taken a turn in a different direction. Nest Labs has been acquired by Google for a reported $3.2 billion.
Google, however, has already been a major investor in Nest, although today’s news of the acquisition is still somewhat surprising. CNBC confirms that beyond Google Ventures, other investors in Nest include Shasta Ventures, Kleiner Perkins and Lightspeed Venture Partners.