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

Microsoft sues Samsung alleging contract breach

4 hours ago

Microsoft on Friday sued Samsung in federal court claiming the South Korean giant had breached a contract over cross-license technology used in the fiercely competitive smartphone market.

Apple closes acquisition of Beats music

11 hours ago

Apple said Friday it closed its $3 billion deal for Beats, the high-end audio equipment and streaming music service, a tie-up that could allow the iPhone maker to reach new audiences.

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