Google to Acquire Nest Labs For $3.2B in Cash

Google Investor Relations Blog:

Google Inc. announced today that it has entered into an agreement to buy Nest Labs, Inc. for $3.2 billion in cash.

Nest’s mission is to reinvent unloved but important devices in the home such as thermostats and smoke alarms. Since its launch in 2011, the Nest Learning Thermostat has been a consistent best seller–and the recently launched Protect (Smoke + CO Alarm) has had rave reviews.

On the one hand, this is cool because now there’s a good chance we’ll see Nest products expand and hit markets other than the US — like us!

On the other hand, this means that Google has yet another potential vector into gathering more data about your life and habits.

If you’re curious, take a read of this interview with Tony Fadell where he discusses the acquisition.

Bottom line: Nest’s privacy policy is staying the same for now. However –and as a smart CEO should–he’s not ruling out changes to Nest’s privacy policy in the future.