Google announced yesterday that it has agreed to acquire Nest for $3.2 billion U.S. dollars. Nest, best-known for selling a beautifully designed, touch-enabled thermostate, specializes in connected home appliances. Why would Google shell out $3.2 billion for a company that sells thermostates and smoke detectors, one might ask.
Well, it is Google's dream to build the connected house, and thus far few companies have succeeded in turning a household appliance as boring as a thermostate into a device that tech savy consumers are licking their fingers for. With the financial (and intellectual) resources that Google has to offer Nest, and more importantly Nest's team, is probably hoped to come up with an entire range of smart devices that extend Google's reach beyond PC, smartphone and tablet. It may well turn out that Nest is Google's $3.2 billion ticket to our living rooms.
Nest Becomes Google's Latest Billion-Dollar Acquisition
Description
This chart shows Google's largest acquisitions. The search giant made several billion-dollar deals in the past decade with Nest being the latest one.
