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Google to buy Nest for $3.2 billion

English.news.cn   2014-01-14 14:53:08

BEIJING, Jan. 14 (Xinhuanet) -- Google Inc announced a 3.2 billion U.S. dollar deal to buy Nest Labs Inc, a smart thermostat and smoke alarm-maker -- a move to go much deeper into consumers' homes.

This is the second largest deal in Google's history after the 12.5 billion U.S. dollar acquisition of mobile phone maker Motorola in 2012, said media reports Tuesday.

Larry Page, the Google CEO, praised Nest's current products and its founders' talents in a statement.

Page said that Google was "excited to bring great experiences to more homes in more countries and fulfill their dreams."

With this acquisition, Google gets Tony Fadell, who is a well-connected and well-respected Silicon Valley entrepreneur credited with creating Apple Inc's iPod music player, along with co-founder Matt Rogers and many other talented engineers and designers.

Google said on Monday that Nest would continue to operate as its own distinct brand after the all-cash deal closes. The deal is expected to close in the next few months pending regulatory approval.

(Source: Agencies)

Editor: Shen Qing
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