Google has agreed to acquire smart home device maker Nest Labs for USD 3.2 billion in cash. Nest develops home devices such as thermostats and smoke alarms, including the Nest Learning Thermostat and the recently launched Protect (Smoke + CO Alarm). The Nest Labs team will join Google. Nest will continue to operate under the leadership of Tony Fadell and with its own distinct brand identity. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US. It is expected to close in the next few months.
