Last Chance to Join Us at SB'24 San Diego!

Google to Acquire Nest Labs, Inc for $3.2B

Google has announced an agreement to buy smart home appliance company Nest Labs, Inc. for $3.2 billion.Nest’s mission is to reinvent oft-overlooked but important devices in the home such as thermostats and smoke alarms. Since its launch in 2011, Nest’s innovative, user-friendly Learning Thermostat has been a consistent best seller — and its recently launched Protect (smoke + CO detector) has received rave reviews.

Google has announced an agreement to buy smart home appliance company Nest Labs, Inc. for $3.2 billion.

Nest’s mission is to reinvent oft-overlooked but important devices in the home such as thermostats and smoke alarms. Since its launch in 2011, Nest’s innovative, user-friendly Learning Thermostat has been a consistent best seller — and its recently launched Protect (smoke + CO detector) has received rave reviews.

Larry Page, CEO of Google, said: “Nest’s founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family. They’re already delivering amazing products you can buy right now — thermostats that save energy and smoke/CO alarms that can help keep your family safe. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!”

Tony Fadell, CEO of Nest, said: “We’re thrilled to join Google. With their support, Nest will be even better placed to build simple, thoughtful devices that make life easier at home, and that have a positive impact on the world.”

Google says Nest will continue to operate under the leadership of Tony Fadell with its own distinct brand identity. The acquisition is expected to close in the next few months.

Last month, The Information reported that Google had been trialing its own Internet-connected home thermostats to help consumers monitor and adjust their energy use, in an apparent move to compete with Nest’s smart thermostat. No word yet on whether Google’s version was shelved in favor of the acquisition.

Last year, Nest Labs joined a strategic collaboration with Ford, Whirlpool, SunPower and Eaton called MyEnergi Lifestyle, aimed at demonstrating how combining renewable energy generation with time-flexible vehicle charging and appliance use can optimize energy consumption and reduce electricity bills in the home.

Upcoming Events

October 14-17, 2024
SB'24 San Diego
US Event
More Information

December 11-12, 2024
SB Member Network: Shifting Customer Behavior and Demand December Member Meeting
Member Event
More Information

March 18-19, 2025
SB'25 Tokyo Marunouchi

Related Stories

Helios: An Out-of-This-World Solution for Decarbonizing Steelmaking INNOVATION & TECHNOLOGY
Helios: An Out-of-This-World Solution for Decarbonizing Steelmaking
Unilever Refreshing Fragrance Formulas with Upcycled Flowers INNOVATION & TECHNOLOGY
Unilever Refreshing Fragrance Formulas with Upcycled Flowers
Bioengineered Plants Offer Superior Indoor Air Purification INNOVATION & TECHNOLOGY
Bioengineered Plants Offer Superior Indoor Air Purification
Bridgestone Partners to Create Closed-Loop Ecosystem for Tires CIRCULAR ECONOMY
Bridgestone Partners to Create Closed-Loop Ecosystem for Tires
Lidl Launches Industry-First, Partially Plant-Based Ground Meat INNOVATION & TECHNOLOGY
Lidl Launches Industry-First, Partially Plant-Based Ground Meat
Mars Seeks Innovators to Reduce the Footprint of Pet Food INNOVATION & TECHNOLOGY
Mars Seeks Innovators to Reduce the Footprint of Pet Food