Google's Nest to buy Dropcam for $555 mn

Jun 21, 2014

Google's Nest Labs said Friday it was buying video monitoring startup Dropcam for a reported $555 million in cash.

The deal comes amid huge growth in the smart home sector. One such example is Nest, which began as a smart-thermostat startup and Google bought in January in a deal valued at $3.2 billion.

"This is a Nest Labs deal, not a Google deal," Nest co-founder Matt Rogers told The New York Times, which reported on the deal's value. But Rogers declined to detail future plans for the two companies.

In announcing the deal, Nest said "Dropcam has the best products, services and customer experience in the business." It did not confirm the value of the transaction on its blog.

Nest said the general plan was for the two firms to "reinvent products that will help shape the future of the conscious home and bring our shared vision to more and more people around the world."

Explore further: Google buys 'smart' thermostat maker Nest for $3.2 bn

add to favorites email to friend print save as pdf

Related Stories

Nest Labs disables feature on smoke alarms

Apr 04, 2014

The high-tech home monitoring device company Nest Labs is disabling a feature on its smoke alarms due to the risk that owners could unintentionally turn off the device with the wave of a hand.

Recommended for you

Ticketfly buying WillCall for on-premise data

23 hours ago

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

Aug 20, 2014

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

BSD
not rated yet Jun 21, 2014
this is finance, not science