Google paid $3.2 billion to acquire smart thermostat maker Nest in a deal that was three years in the making.

Google Acquires Nest

Nest, based out of Palo-Alto, Calif., is a technology company that endeavors to recreate in-home devices – such as the thermostat and smoke alarm – and make them more intuitive. Founded in 2010 by Apple engineers Tony Fadell and Matt Rogers in 2010, Nest exploded over the next few years – thanks in part to Google’s Sergey Brin, who became involved in the company in 2011.

“Google will help us fully realize our vision of the conscious home and allow us to change the world faster than we ever could if we continued to go it alone. We’ve had great momentum, but this is a rocket ship,” said Fadell in a blog post on Monday.

“Google has the business resources, global scale and platform reach to accelerate Nest growth across hardware, software and services for the home globally,” the post continued. “And our company visions are well aligned – we both believe in letting technology do the hard work behind the scenes so people can get on with the things that matter in life. Google is committed to helping Nest make a difference and together, we can help save more energy and keep people safe in their homes.”

Google & Apple Interested In Smart Home Tech

Google, like Apple, has been eager to get into the business of smart home devices, which are thought to be the next boom in the tech market, according to Forbes. Though Google had attempted creating its own smart thermostat, acquiring the established Nest was likely a better outcome for the tech giant. Apple had reportedly also been vying to pick up Nest.

“Nest’s founders, 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. “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. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!”

Nest, which has 300 employees, will continue to operate as its own brand despite its new relationship with Google, according to their recent blog post. They also plan on continuing to explore ways in which to improve upon common household devices in order to provide more efficient products for consumers.

– Chelsea Regan

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