Google’s offer to acquire Nest Labs, the hardware company behind the popular Nest internet connected home thermostat, has been given the official seal of approval by the Federal Trade Commission. The purchase gives Nest Labs’s shareholders $3.2 Billion in cash.
We expect that Google will keep Nest as an intact division, and position them as their core hardware group in place of Motorola. Google recently announced it is selling Motorola to Lenovo for $2.9 billion. Rounding out the Google news so far this quarter, Google has made relatively unexpected, and significant, patent agreements with Samsung and Cisco, making us wonder if there might be some big plans in the works.
The FTC Premerger Notification Program offers no further information on the deal, providing little more than the names of the parties involved, a transaction number and the short phrase that I am sure had a few people holding their breath in anticipation – Granting Status: Granted
Are you more or less inclined to put Nest connected devices in your home now that they could tie to Google services, and likely to your Google account?