Google buys smart thermostat maker Nest for a cool $3.2B
Google has acquired Nest, a company that makes a home thermostat that can be programmed from people's mobile phones, for $3.2 billion in cash, Google said on Monday.
The founders of Nest, Tony Fadell and Matt Rogers, "have built a tremendous team that we are excited to welcome into the Google family," Google CEO Larry Page said in a statement.
The transaction, Google said, is expected to close in the next few months. Nest confirmed the deal with a Twitter message, adding that "Nest will stay Nest." Nest launched in 2011, and will continue under the leadership of Fadell, Google said in its announcement.