logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Google Putting Nest Under Its Umbrella for $3.2 Billion in Cash

By  +Follow January 13, 2014 2:12PM
Share:
Tickers Mentioned:

In a lackluster trading day for the bulls, merger mania came after the closing bell with three big names involved in deals.  In a move that many saw coming, Charter Communications (CHTR) offered about $132.50 per share in cash and stock to buy Time Warner Cable (TWC) , valuing the U.S.’s second largest cable company at roughly $61 billion, including debt.

Everyone will be talking about that merger. That’s not fun. This one is much cooler.

GOOG Adds to its Growing Nest

In a much smaller deal, comparatively, search engine and tech behemoth Google Inc. (GOOG) said that it is paying $3.2 billion in cash to acquire Nest Labs. Nest is best known for it learning, energy-saving thermostat and its recently launched Protect, a combination smoke alarm and carbon monoxide alarm that can talk to you and tell you what’s going on with the air in your house and where.

Both products have been the topic of rave reviews, including being a feature on DIY Networks’ “I Want That!” The Nest thermostat “never stops learning,” adjusting to the user changing it to different temperatures at different times of the day to optimize comfort and control costs associated with heating and cooling. The Nest Protect was designed to take the annoyance out of traditional smoke alarms that users often disable because of the ear-piercing alarm that can go off while cooking a meal or the incessant chirping when you don’t have another 9 volt battery handy. Both the thermostat and Protect are controllable from the Nest app.

Check out the video to see how Nest Protect works.

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.”

Former AAPL Engineers Make Good

Both Fadell and Rogers were engineers working at Apple (AAPL) before starting Nest Labs out of a garage in Palo Alto, California in May 2010 with the mission to “reinvent unloved but important devices in the home.”  Fadell, 44, has been called the “one of the fathers of the iPod,” because of his role in the development of the device while serving as Senior Vice President of Apple’s iPod division.  Following completion of the acquisition, Nest will continue to operate under its own brand and the leadership of Fadell.

Incidentally, the Nest thermostat was originally only available at the Apple Store when it was first launched in October 2011.  A bit ironic that Apple operating system rival Google will now own the company.

"We're thrilled to join Google," Fadell said in a statement. "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."

Shares of Google were down 0.6 percent during the regular trading session Monday at $1,122.98, but have regained ground following the news in extended trading, printing back up to $1,130 per share.

DISCLOSURE

Results for goog
Daily Delphi
16 Apr 14 11:09:36
Forecast: #Google $GOOG close at 538.28 from Community on Apr 16, 2014 #DailyDelphi http://t.co/pdpHwbC55A
Ernest Partington
16 Apr 14 11:09:08
$GOOG: Samsung Galaxy S5 Is Already Battling The iPhone 6 http://t.co/NpVft7JuPQ
John Earl Burnett
16 Apr 14 11:07:51
That's the million dollar question Carol! They're dead in the H20 w/o Alibaba $. Mayer's needs to follow $GOOG & $FB paths.. @caroljsroth
Stock Herald
16 Apr 14 11:07:36
$GOOG: [video] Markets Higher After Better Chinese GDP, Yahoo Earnings http://t.co/fp9N90aBj8
Stock Herald
16 Apr 14 11:07:07
$GOOG: Google: What investors can expect http://t.co/q0tmltAkof
Vivek Wadhwa
16 Apr 14 11:06:19
RT @pimmfox: Google out to rule the world? @wadhwa joins me today at 5pm ET after $GOOG posts earnings. WATCH live at 5p: http://t.co/ANsw…
Pimm Fox
16 Apr 14 11:06:09
Google out to rule the world? @wadhwa joins me today at 5pm ET after $GOOG posts earnings. WATCH live at 5p: http://t.co/ANswR2aErN
Joe Blow
16 Apr 14 11:06:01
$GOOG bought a butterfly in play today for $620/630/640
Andrés B ¡¡
16 Apr 14 11:05:17
RT @MarketWatch: $GOOG is up over 2% ahead of its earnings release after the bell. Follow our Earnings Wall: http://t.co/jw1Ujpv24o http://…
Ernst Grosz
16 Apr 14 11:05:04
$GOOG: Stock market live blog: Yahoo surges, Google up 2%, SOCL tests a botto... http://t.co/ZuhXfWiQ2k
ThomP
16 Apr 14 11:04:19
@KymLang did u ever do a chart of $goog?
VisualStock Resource
16 Apr 14 11:03:13
$GOOG - MARKET SNAPSHOT: U.S. Stocks Rise; Yellen Optimistic On Economy http://t.co/mJsfcGbgeC
john smith
16 Apr 14 11:02:46
$GOOG - MARKET SNAPSHOT: U.S. Stocks Rise; Yellen Optimistic On Economy http://t.co/fRgpDJfXa7
Live Stock News
16 Apr 14 11:02:13
$GOOG - MARKET SNAPSHOT: U.S. Stocks Rise; Yellen Optimistic On Economy http://t.co/8j03JDZm0a
Informer
16 Apr 14 11:01:37
$GOOG: Google: What investors can expect http://t.co/zvYugynypi
Stock Herald
16 Apr 14 11:01:35
$GOOG: A Sale and An Update: Google Glass Has a Big Week http://t.co/VazO9EFWE4
Informer
16 Apr 14 11:01:35
$GOOG: Stocks rise for third day; Dow up more than 100 http://t.co/B8ZE2K1e7H
Stock Herald
16 Apr 14 11:01:07
$GOOG: Samsung Galaxy S5 Is Already Battling The iPhone 6 http://t.co/WWGzCZX8do
Stock Herald
16 Apr 14 11:01:07
$GOOG: GLOBAL MARKETS-Shares up on China growth relief; dollar slips http://t.co/2yOgMYrMJH
VisualStock Resource
16 Apr 14 11:00:56
$GOOG - TECH STOCKS: Yahoo Rallies; 'Holy Alibaba,' Says Analyst http://t.co/aDHNcFPyIx
VisualStock Resource
16 Apr 14 11:00:54
$GOOG - TECH STOCKS: Yahoo Rallies; 'Holy Alibaba,' Says Analyst http://t.co/cwVQHZHYh9
john smith
16 Apr 14 11:00:33
$GOOG - TECH STOCKS: Yahoo Rallies; 'Holy Alibaba,' Says Analyst http://t.co/UOpms5RBce
john smith
16 Apr 14 11:00:30
$GOOG - TECH STOCKS: Yahoo Rallies; 'Holy Alibaba,' Says Analyst http://t.co/LEzIVa4NoZ
Arian Husher
16 Apr 14 11:00:26
Whats going on with $PNR $PRGO $DSW $GOOG #overvalued http://t.co/FOReQI21Jz
Live Stock News
16 Apr 14 11:00:21
$GOOG - TECH STOCKS: Yahoo Rallies; 'Holy Alibaba,' Says Analyst http://t.co/63lqPXWnyA
PredictWallStreet
16 Apr 14 11:00:21
The PWS Poll Results for $GOOG, 4/17/2014, are: 75% up. See more at: http://t.co/goIAvIh6zX, @tweetcalen
PredictWallStreet
16 Apr 14 11:00:20
The PWS Poll Results for $goog, 4/17/2014, are: 75% up. See more at: http://t.co/bMVa36mc42, @JeffPWS
PredictWallStreet
16 Apr 14 11:00:19
The PWS Poll Results for $goog, 4/17/2014, are: 75% up. See more at: http://t.co/bMVa36mc42, @PWSTSupport
Live Stock News
16 Apr 14 11:00:18
$GOOG - TECH STOCKS: Yahoo Rallies; 'Holy Alibaba,' Says Analyst http://t.co/Oerk1OkdQY
PredictWallStreet
16 Apr 14 11:00:18
The PWS Poll Results for $GOOG, 5/16/2014, are: 65% up. See more at: http://t.co/goIAvIh6zX, @PWSTSupport
KAVEH ILKHANIPOUR
16 Apr 14 10:58:18
RT @andrewnyquist: "How Standing On Your Head Can Reduce Investor Bias" http://t.co/NIJWbkUbBh by @KimbleCharting $SPY $QQQ $GOOG $TSLA $FB…
Monica
16 Apr 14 10:57:56
RT @rajat_8: Exciting disruption - Facebook/WhatsApp/Ascenta Combo Is Ready To Make Wireless Carriers Obsolete $FB $GOOG $ $VZ http://t.c…
Andie Andrewson
16 Apr 14 10:57:33
$GOOG: Google, IBM, AmEx to report earnings after hours http://t.co/rjAbwivilh
Jeff Hawks
16 Apr 14 10:57:25
High Flyer stocks like $FB $YELP $SPLK $TWTR $GOOG at current levels are an excellent buying opportunity and have huge upside potential!
Yahaira Landry
16 Apr 14 10:57:23
Bad #Invesments like got you down $GLNG $HPT $ORI $GOOG Try this http://t.co/Agrs3lBFtb
Mitchell Warren
16 Apr 14 10:56:42
4/16/2014 Smart Money Report for unusual options activity http://t.co/3QCBR953Qs $GOOG $GOOGL $MS $GPRE $HCN $STJ
Informer
16 Apr 14 10:55:36
$GOOG: GLOBAL MARKETS-Shares up on China growth relief; dollar slips http://t.co/6txYk5ZE1m
JP @WallStPlaybook
16 Apr 14 10:55:26
RT @Richard_WSPB: Embrace Volatility: Buy Google and Chipotle, Sell AMD http://t.co/qcSiyhMwUB via @TheStreet $GOOG $AMD $CMG
Informer
16 Apr 14 10:55:07
$GOOG: Samsung Galaxy S5 Is Already Battling The iPhone 6 http://t.co/ErYMjwgFZp
Informer
16 Apr 14 10:55:04
$GOOG: A Sale and An Update: Google Glass Has a Big Week http://t.co/Hmak4HrwyI
VisualStock Resource
16 Apr 14 10:54:22
$GOOG - MARKET SNAPSHOT: U.S. Stocks Rise On Upbeat Data; Tech Earnings http://t.co/QG8XcWhJp3
john smith
16 Apr 14 10:54:08
$GOOG - MARKET SNAPSHOT: U.S. Stocks Rise On Upbeat Data; Tech Earnings http://t.co/YLudbDWVui
Ernst Grosz
16 Apr 14 10:54:03
$GOOG: Google I/O To Elevate Focus On Design http://t.co/dlpBoSuQVj
Live Stock News
16 Apr 14 10:54:00
$GOOG - MARKET SNAPSHOT: U.S. Stocks Rise On Upbeat Data; Tech Earnings http://t.co/71Ztw7Vw3n
Ambrose Long
16 Apr 14 10:53:02
$PII It could be breaktout time on $LVS $BBBY $GOOG #NSE http://t.co/q3OZPCfHIz
VisualStock Resource
16 Apr 14 10:51:37
$GOOG - Starbucks to Move European Headquarters to London http://t.co/lwpA78AgIj
Live Stock News
16 Apr 14 10:51:30
$GOOG - Starbucks to Move European Headquarters to London http://t.co/xkcDTd3uPg
How's Yehuda
16 Apr 14 10:51:04
#Stocks you might want to buy $HES $HRC $CCL $GOOG #Research http://t.co/2AITbC79Iu
Stock News 24
16 Apr 14 10:49:09
$GOOG - Google: What investors can expect -> http://t.co/AByX8fFtPI #stock #stocks #stockaction
Stock News 24
16 Apr 14 10:49:02
$GOOG - AT&T Adds Volvo To Growing Auto, M2M Customer Base -> http://t.co/6bXATCPe7g #stock #stocks #stockaction
				
				
By  +Follow January 13, 2014 2:12PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.