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: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for goog
Jon Ogg
23 Aug 14 07:12:30
Google $GOOGL $GOOG must feel lucky - #Android now power almost 19,000 different devices globally. http://t.co/I3BZY2n0nm
corporatetrainercn
23 Aug 14 07:04:37
RT @GoogleFacts: In 1997, Yahoo turned down the offer to acquire Google for only $1 million. Today Google is worth $360-410 billion. $GOOG …
Investors Hangout
23 Aug 14 07:03:37
DennyT: CTIX Historical Prices $CTIX $GOOG $GS $SMH $SH http://t.co/IY5LmkeruO
Investors Hangout
23 Aug 14 07:03:34
DennyT: CTIX Historical Prices $CTIX $GOOG $GS $SMH $SH http://t.co/i8yuoe7fQ7
Investors Hangout
23 Aug 14 06:48:31
chartguy89: TBT Stock Chart $TBT $GOOG $ITB $EFA http://t.co/gi8D7jV5IY
Investors Hangout
23 Aug 14 06:48:30
chartguy89: JNUG Stock Chart $JNUG $AA $AA $GOOG http://t.co/7jDFvqDutR
Investors Hangout
23 Aug 14 06:48:22
chartguy89: TBT Stock Chart $TBT $GOOG $ITB $EFA http://t.co/jB45RrsCt4
Investors Hangout
23 Aug 14 06:48:21
chartguy89: JNUG Stock Chart $JNUG $AA $AA $GOOG http://t.co/GJy30smTo7
GGlassFan
23 Aug 14 06:47:48
RT @goinsidegoogle: Google acquires Gecko Design to work on projects for Google X, including Google Glass. https://t.co/C5ES1TX3Py $goog ht…
iHangout
23 Aug 14 06:42:44
http://t.co/Vv1sYDyeQn chartguy89: Stock Charts: JNUG Stock Chart $JNUG $AA $AA $GOOG http://t.co/LWJh8NEqFi
[ Google News ]
23 Aug 14 06:40:31
Google acquires Gecko Design to work on projects for Google X, including Google Glass. https://t.co/C5ES1TX3Py $goog http://t.co/FmrnQXqORv
Chris Perruna
23 Aug 14 06:33:28
On a roll today: "@howardlindzon: NEW POST 'When Expensive is Cheap & Cheap Expensive - Google Turns 10 http://t.co/uPw6iOFPKJ $GOOG $STUDY"
Forex Insight
23 Aug 14 06:31:29
RT @howardlindzon: NEW POST - 'When Expensive is Cheap and Cheap Expensive - Google Turns 10 http://t.co/fyKGlTF6PM $goog $study
Auto Binary option
23 Aug 14 06:31:29
RT @howardlindzon: NEW POST - 'When Expensive is Cheap and Cheap Expensive - Google Turns 10 http://t.co/fyKGlTF6PM $goog $study
howardlindzon
23 Aug 14 06:31:03
NEW POST - 'When Expensive is Cheap and Cheap Expensive - Google Turns 10 http://t.co/fyKGlTF6PM $goog $study
Michael Brower
23 Aug 14 06:04:10
@ACORE: Killer speaker line up at #REFFwest this year, including Tesla, Opower and Google. More at @REFF_ACORE $OPWR $TSLA $GOOG
HotpageTech
23 Aug 14 05:51:18
#Google Fiber Is Fast, but Is It Fair? Are Some Being Left Behind? - $GOOG http://t.co/RD8VDE76Re http://t.co/HSeVJpKlEV
Hotpage
23 Aug 14 05:51:18
#Google Fiber Is Fast, but Is It Fair? Are Some Being Left Behind? - $GOOG http://t.co/VGWRPJvdUu http://t.co/nIcljVcJcD
Chasing Stars
23 Aug 14 05:50:52
$BITA Bid http://t.co/wNn0vhk0IR Also See: $QLD $GOOG $VXX $LEI ~
Chasing Stars
23 Aug 14 05:43:41
$BIIB Company Info http://t.co/9wlfecDdsp Also See: $GOOG $RFMD $GILD $EPI ~
Investors Hangout
23 Aug 14 05:34:44
$BIIB Exchange http://t.co/n5LqcZEEmO Also See: $PPH $SMH $GOOG $TSLA ~
Ian Chambers
23 Aug 14 05:05:26
RT @GoogleFacts: In 1997, Yahoo turned down the offer to acquire Google for only $1 million. Today Google is worth $360-410 billion. $GOOG …
Dathan Pyle
23 Aug 14 04:33:05
Google's new music subscription service, YouTube Music Key, has been revealed http://t.co/S1szUN2IYj $GOOG $GOOGL
Dan Ramsden
23 Aug 14 04:30:10
Maybe the most important media industry story of the year(s), impacts every facet. $GOOG & $FB with a commanding lead http://t.co/LA8p6iXnOC
finsents
23 Aug 14 04:17:36
$GOOG:US 23Aug Positive News #Sentiment http://t.co/uUhGuPVGx8 #Russell200
Wall Street Monitor
23 Aug 14 04:15:39
$GOOG: Google: Payments About To Go Into Overdrive http://t.co/Y74M72d7qr http://t.co/nhUlPa8lXr
finsents
23 Aug 14 04:15:24
$GOOG:US 23Aug Positive News #Sentiment http://t.co/J6jC8C26rC #NASDAQ
Stock Wire
23 Aug 14 04:12:55
Google: Payments About To Go Into Overdrive $GOOG http://t.co/i58x05LELo
Andres Llorente
23 Aug 14 04:12:52
Google adquiere la compañía de diseño industrial Gecko Design por un importe no revelado http://t.co/YjBQf844hy $GOOG
TechNews.org
23 Aug 14 03:20:43
Facebook (NASDAQ FB) Stock Update: Snapchat to Start Selling Ads $GOOG : http://t.co/5qXXAIpNJ1
TechNews.org
23 Aug 14 03:03:17
For Secret X Project, Google Acquires Gecko Design: Active Stock GOOG $GOOG : http://t.co/CorICsgprS
Janek Wagner
23 Aug 14 02:53:00
Google strengthens hardware expertise by acquiring Gecko Design http://t.co/2fjBJy7MC7 $GOOG $GOOGL
Chris Roche
23 Aug 14 02:49:21
RT @GoogleFacts: In 1997, Yahoo turned down the offer to acquire Google for only $1 million. Today Google is worth $360-410 billion. $GOOG …
Neil Barnes
23 Aug 14 02:47:43
RT @GoogleFacts: In 1997, Yahoo turned down the offer to acquire Google for only $1 million. Today Google is worth $360-410 billion. $GOOG …
Chasing Stars
23 Aug 14 02:26:48
$AC/B.TO Bid Size http://t.co/kaid8n9z4a Also See: $AA $CSX $GOOG $DUST ~
4-traders.com
23 Aug 14 02:20:03
GOOGLE 'C' : After 'Street View' Car Possibly Hits Dog, Google Challenged to Help Chilean Pups http://t.co/1a1wW8G9yr $GOOG
Sami Ghazali
23 Aug 14 01:30:27
"@2morrowknight: According to @comScore, these are the top 10 #apps in the U.S. http://t.co/6h960IiS0U $GOOG $FB http://t.co/utxRDHSnd4"
Rosner Stocks
23 Aug 14 01:26:43
$XOM Message Board Posts http://t.co/jYDKHnmVXT Also See: $IWM $TCK/B.TO $GOOG $FDN ~
Angel Hsu
23 Aug 14 01:23:53
RT @WSJ: Google plans to offer accounts to children under 13 years old for the first time: http://t.co/kOx05KaYbP $GOOG
[ Environment News ]
23 Aug 14 01:17:09
RT @goinsidegoogle: @googleearth and the Environmental Defense Fund map natural gas leaks. https://t.co/sqpw4ita2j $goog http://t.co/LvyT8G…
[ Google News ]
23 Aug 14 01:07:10
@googleearth and the Environmental Defense Fund map natural gas leaks. https://t.co/sqpw4ita2j $goog http://t.co/LvyT8GGhuT
シグレ@ドラマ〜
23 Aug 14 01:02:04
日本では普及しないかも $goog
Jane Thomas
23 Aug 14 00:57:07
RT @2morrowknight: According to @comScore, these are the top 10 #apps in the U.S. http://t.co/rtSjSVSnXf $GOOG $FB http://t.co/zLHFzDmZ3I
Theta Forums
23 Aug 14 00:51:15
RT @tastytrade: Got a #trading question? Ask our experts live now! https://t.co/XgUd58KO $GOOG $AAPL
Theodore Kekstadt
23 Aug 14 00:25:04
$GOOG online stock traders get their trading information here - No Login Required - http://t.co/YWUOoPE1hg
Nilesh Talaviya
23 Aug 14 00:04:48
RT @2morrowknight: How To Search For What You Want On #Google - http://t.co/c4F8IEsRtr $GOOG RT @shadibucklin
Chasing Stars
22 Aug 14 23:24:17
$VALE Short Sales http://t.co/XrZWNBZ6vO Also See: $TSLA $WEF.TO $AEO $GOOG ~
BrianSJ
22 Aug 14 23:23:57
RT @ARKindu: $GOOG lobbies for "Matrix-style" virtual testing of #autonomous car to count toward certification. http://t.co/rR1aOYYEMT
Nate Martin McHariah
22 Aug 14 23:05:15
RT @2morrowknight: According to @comScore, these are the top 10 #apps in the U.S. http://t.co/rtSjSVSnXf $GOOG $FB http://t.co/zLHFzDmZ3I
Dieter Sensen
22 Aug 14 22:55:21
RT @2morrowknight: How To Search For What You Want On #Google - http://t.co/c4F8IEsRtr $GOOG RT @shadibucklin
				
				
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.