Boston, MA 02/13/2014 (wallstreetpr) – Google Inc (NASDAQ:GOOG) has closed the $3.2B acquisition of Nest Labs. In the filing with the Securities & Exchange Commission, the company said that this deal was closed on 7 February. Last month, the search giant disclosed that it will buy the maker of Learning Thermostat and Protect smoke and the carbon monoxide detector as a part of the company’s goal to position itself well in the smart-home systems space. In the 10-K filing, it revealed a little more about what plans it has for Nest. With this acquisition, Google Inc (NASDAQ:GOOG) has scooped up a very promising line of innovative products as well as a talented and much sought-after design team.
Perfect branding
Nest will continue operating with its own brand said Google. This is the 2nd largest deal in the search giant’s history after its 2012 Motorola acquisition for $12.5 billion. Just as was the case with the Motorola deal, this latest acquisition will help Google Inc (NASDAQ:GOOG) find a firmer footing into this new market wherein there is almost an overlap in Internet services and consumer appliances. Nest Labs seems to spotlight thermostats as well as smoke alarms, but there is a distinct possibility that Google will expand this technology in numerous other devices, in due course.
Technology speak
When talk of the internet of things comes into play, home automation is one big area that has a lot of potential. This particular acquisition will definitely see the company leveraging the advantage it has with Nest on board. The company is a leader in this field and will add a lot of value to Google Inc (NASDAQ:GOOG), which is a tech innovation giant in its own right. Nest had gained a massive following with the company’s 1st thermostat. It was a round, brushed-metal- device that tracks usage and then employs all that data to automatically set the cooling and heating temperatures.
