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Google enters connected home market with Nest Labs takeover

Wednesday 15 January 2014 | 14:05 CET | Author: Tim Poulus | Market Commentary
Google has acquired the company Nest Labs for USD 3.2 billion. Nest Labs makes two connected devices, a thermostaat (USD 250) and a smoke alarm (USD 130), both of which can be controlled via an iOS or Android app and Wi-Fi. Nest Labs, which counts around 300 employees, will continue as an independent company within Google. Google invested earlier in Nest Labs through its Google Ventures arm; the other shareholders were private equity investors. They reportedly invested up to USD 230 million in Nest Labs. The founders of Nest Labs came from Apple, and one of them was among the initial creators

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Categories: Internet
Companies: Google / Motorola
Countries: United States / World
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