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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for goog
janri
2 Jun 15 18:00:53
RT @sanglucci: Action in Review | June 2nd, 2015 | http://t.co/8YxW0Pqi26 | $GOOGL $GOOG $X $FSLR #zoolander #bluesteel #magnum http://t.co…
Sang Lucci
2 Jun 15 18:00:43
Action in Review | June 2nd, 2015 | http://t.co/8YxW0Pqi26 | $GOOGL $GOOG $X $FSLR #zoolander #bluesteel #magnum http://t.co/oQIjM3zEqA
oneconomic
2 Jun 15 17:59:50
$AAPL CEO Tim Cook just took a huge potshot at ad-driven companies like $GOOG and $FB http://t.co/0rshdTlvFj
The Stock Professor
2 Jun 15 17:53:56
Steve Jobs knew what the Internet was really for way back in 1996: http://t.co/86JYu9NIGQ $AAPL $GOOG $PCLN $K
Stock Rocket
2 Jun 15 17:51:46
Our Stock Alerts Gained Over 1300% In Less Than 3 Months! See Our New Picks: http://t.co/keLIhbbQwg $TRX $AAPL $GOOG
ابو عبدالملك
2 Jun 15 17:50:35
RT @greensboro_nc: Google Wants to Count the Calories in Your Instagram Food Shots - TIME http://t.co/XmAyk7ktTO #Google $GOOG $GOOGL http:…
StockenheimerSchmidt
2 Jun 15 17:50:22
Our Pick On $PPCH Gained As Much As 400% For Subscribers So Far! Huge News: http://t.co/ObxaN7h13i $MSFT $AAPL $GOOG
Stockaholics
2 Jun 15 17:49:38
Our Penny Stock Pick On $THCZ Is Up 570.77% For Platinum Members! Big Update: http://t.co/Zk4TMfk9nf $TRX $AAPL $GOOG
Syed Afzaal Ali
2 Jun 15 17:44:09
RT @greensboro_nc: Google Wants to Count the Calories in Your Instagram Food Shots - TIME http://t.co/XmAyk7ktTO #Google $GOOG $GOOGL http:…
İce Man ☼
2 Jun 15 17:44:07
RT @greensboro_nc: Google Wants to Count the Calories in Your Instagram Food Shots - TIME http://t.co/XmAyk7ktTO #Google $GOOG $GOOGL http:…
#SocialMedia NC
2 Jun 15 17:43:38
Google Wants to Count the Calories in Your Instagram Food Shots - TIME http://t.co/XmAyk7ktTO #Google $GOOG $GOOGL http://t.co/b292Yy6vmq
Penny Stockington
2 Jun 15 17:43:11
Our Penny Stock Alerts Gained Over 3400% For Subscribers In 7 Months! See Our New Picks: http://t.co/nLJyVUosJ4 $TRX $AAPL $GOOG
Stock Dawgzz
2 Jun 15 17:42:35
We Have Huge New Penny Stock Picks Coming! Become A Platinum Member To Get Them Early: http://t.co/3q6F8Dy1Ar $TRX $AAPL $GOOG
Clayton R.
2 Jun 15 17:33:39
$GOOG http://t.co/zzGEviJ3Ib Intel's WhatsApp Moment: Doubles Down On Data Center Strategy With Altera http://t.co/mrhkDqdN2L
Apple News Outlet
2 Jun 15 17:26:38
RT @Stockology101: Samsung’s Galaxy S6 Struggles to Keep Up With Apple’s iPhone 6: http://t.co/JbXDovAM9H $AAPL $GOOG $PCLN $K
Bradley
2 Jun 15 17:21:22
What will the $DOW do tomorrow? http://t.co/RGFWb02YGH $GOOG $AAPL $FB $EBAY #options #stocks #daytrading http://t.co/UsIOPQ4MfJ
Joel West
2 Jun 15 17:20:24
RT @BVBigelow: $GOOG keeps $85M buyout of San Diego sensor startup Lumedyne Technologies under wraps. http://t.co/k8fZIs6m6e
YourPersonalTrader
2 Jun 15 17:17:06
18pt $SPX bounce led by Mega $QNET's $PCLN 40pts $LNKD $GOOG $NFLX ~10pts, $FB trough->peak, Day 2 outperf.. via http://t.co/iqDnsbYxLt
Ruben
2 Jun 15 17:12:26
$GOOG - What Happens to YouTube When Twitter's Video Efforts Take Off? http://t.co/jaAxu2VdlU
Sergio Gambarelli
2 Jun 15 17:12:20
$GOOG - What Happens to YouTube When Twitter's Video Efforts Take Off? http://t.co/yC5HcfzGAs
Document Strategies
2 Jun 15 17:11:57
RT @AtlBizChron: Google to invest over $300 million in Georgia data center expansion http://t.co/BllH4fGZQb $GOOG #tech #CRE http://t.co/d8…
Live Stock News
2 Jun 15 17:11:55
$GOOG - What Happens to YouTube When Twitter's Video Efforts Take Off? http://t.co/40ZIv2FXmo
Solo traders
2 Jun 15 17:11:37
$GOOG - What Happens to YouTube When Twitter's Video Efforts Take Off? http://t.co/DuyDhs1ki7
john smith
2 Jun 15 17:11:18
$GOOG - What Happens to YouTube When Twitter's Video Efforts Take Off? http://t.co/doekR5xMPA
The Stock Professor
2 Jun 15 17:11:11
Samsung’s Galaxy S6 Struggles to Keep Up With Apple’s iPhone 6: http://t.co/JbXDovAM9H $AAPL $GOOG $PCLN $K
James DiPlata
2 Jun 15 17:05:54
RT @royfberger: Eye of the tiger, baby! $GOOG $PCLN $TWTR $FB $AAPL $EBAY $GM $DUST $BABA http://t.co/JUFJoVdZxO http://t.co/8HVjdyz4rq
Stock Hobbit
2 Jun 15 17:02:06
Logging in now to live stock chat http://t.co/ndv5bWxcUu $GOOG $AAPL $FB $EBAY #options #stocks #daytrading http://t.co/9UU4XQB2DR
Chris Peifer
2 Jun 15 17:01:36
@peter @fmanjoo ad centric businesses will likely charge more for ads that facilitate transactions via "buy" buttons. $GOOG $FB $TWTR
Dan
2 Jun 15 17:00:29
$GOOG Max Pain = 535.00. Maturity = 06/05/2015. Previous close = 539.18. http://t.co/jukHf3U17f
OM_giveaways
2 Jun 15 16:58:06
Learn stock technical analysis and charting. http://t.co/6TAu75nrSY $AAPL $GOOG $JRJC $LIVE $INTC $TWTR http://t.co/YhvT8CXyLS
royfberger
2 Jun 15 16:53:04
Logging into Option Millionaires LIVE chat NOW! http://t.co/p8xsJw01s6 $GOOG $AAPL $VIX #stocks #daytraders http://t.co/XwQbjxPA18
Larry Kihlstadius
2 Jun 15 16:51:27
RT @AtlBizChron: Google to invest over $300 million in Georgia data center expansion http://t.co/BllH4fGZQb $GOOG #tech #CRE http://t.co/d8…
GlennaWiseman
2 Jun 15 16:38:10
RT @claytonrikktorr: $GOOG http://t.co/zzGEvirsQD EYVoice: The Power Of Purpose-Led Transformation -- Driving Innovation and Growth http://…
Apple News Outlet
2 Jun 15 16:34:16
RT @Stockology101: Apple CEO Tim Cook just took a huge potshot at ad-driven companies like Google and Facebook: http://t.co/kH5arRDOs4 $AA…
Elliot Kelly
2 Jun 15 16:33:24
RT @AtlBizChron: .@Google to announce $300M+ data center expansion in Douglas County http://t.co/BllH4fpoYD $GOOG #tech #jobs http://t.co/U…
Chuck
2 Jun 15 16:32:39
RT @AtlBizChron: Google to invest over $300 million in Georgia data center expansion http://t.co/BllH4fGZQb $GOOG #tech #CRE http://t.co/d8…
Market Parse PR
2 Jun 15 16:30:12
@JaberNaffa Your tweet about $GOOG had a sentiment of 5 and was featured on Market Parse. http://t.co/2Wd8SgvlU1
The Stock Professor
2 Jun 15 16:29:02
Apple CEO Tim Cook just took a huge potshot at ad-driven companies like Google and Facebook: http://t.co/kH5arRDOs4 $AAPL $GOOG $PCLN $K
Stockaholics
2 Jun 15 16:27:59
Our Penny Stock Pick On $THCZ Is Up 570.77% For Platinum Members! Big Update: http://t.co/Zk4TMfk9nf $AMZN $MCOX $GOOG
lottiee
2 Jun 15 16:27:32
RT @InsiderWire: Sergey Brin Co-Founder Sells $18,004,027 Worth of $GOOG Google Inc. - #Form4 #InsiderTrading - http://t.co/IUnRvFdnZ9
Stock Rocket
2 Jun 15 16:23:27
Our Stock Alerts Gained Over 1300% In Less Than 3 Months! See Our New Picks: http://t.co/keLIhbbQwg $AMZN $MCOX $GOOG
Bradley
2 Jun 15 16:23:06
Great FREE #tutorial here for #traders http://t.co/LEJZ0NRkFE $NFLX $BAC $AMZN $MSFT $AAPL $GOOG $GOOGL $FEYE http://t.co/dFeV7YRNwH
royfberger
2 Jun 15 16:20:05
Eye of the tiger, baby! $GOOG $PCLN $TWTR $FB $AAPL $EBAY $GM $DUST $BABA http://t.co/JUFJoVdZxO http://t.co/8HVjdyz4rq
DylPyckle
2 Jun 15 16:15:27
RT @TRAFINITY: "@Benzinga "Unlike $AAPL, I don't see imminent upside breakout for $GOOG." @Ralph_Acampora on #PreMarket Prep: http://t.co/w…
Stock Dawgzz
2 Jun 15 16:14:32
We Have Huge New Penny Stock Picks Coming! Become A Platinum Member To Get Them Early: http://t.co/3q6F8Dy1Ar $AMZN $MCOX $GOOG
Bryan Heller
2 Jun 15 16:13:38
RT @AtlBizChron: Google to invest over $300 million in Georgia data center expansion http://t.co/BllH4fGZQb $GOOG #tech #CRE http://t.co/d8…
Stockaholics
2 Jun 15 16:13:01
Our Penny Stock Pick On $THCZ Is Up 570.77% For Platinum Members! Big Update: http://t.co/Zk4TMfk9nf $ERBB $BBDA $GOOG
Penny Stockington
2 Jun 15 16:11:58
Our Penny Stock Alerts Gained Over 3400% For Subscribers In 7 Months! See Our New Picks: http://t.co/nLJyVUosJ4 $AMZN $MCOX $GOOG
Stock Rocket
2 Jun 15 16:10:45
Our Stock Alerts Gained Over 1300% In Less Than 3 Months! See Our New Picks: http://t.co/keLIhbbQwg $ERBB $BBDA $GOOG
Johnnyt74
2 Jun 15 16:06:24
@JustinPulitzer Would $twtr be a better takeover candidate for $goog or for $fb?
				
				
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.

Login or Register

LOG IN