Posts Tagged ‘Nest Labs’

Google’s Nest Labs Contributes to Internet of Things

photo of Nest  ThermostatPreviously, it was reported on SemanticWeb.com that Google had acquired Nest Labs. Steve Lohr of The New York Times recently opined that: “Google did not pay $3.2 billion for Nest Labs this year just because it designed a smart thermostat that has redefined that humble household device. No, Google also bought into the vision of Nest’s founders, Tony Fadell and Matt Rogers, a pair of prominent Apple alumni, that the Nest thermostat is one step toward what they call the conscious home. That means a home brimming with artificial intelligence, whose devices learn about and adapt to its human occupants, for greater energy savings, convenience and security. Last Friday, Nest moved to broaden its reach in the home, buying a fast-growing maker of Internet-connected video cameras, DropCam, for $555 million. And on Tuesday, Nest is expected to announce a software strategy backed by manufacturing partners and a venture fund from Google Ventures and Kleiner Perkins Caufield & Byers.”

The author added: “Nest’s is the third high-profile announcement this month about software to link devices in the home in a network known as the consumer Internet of Things. At its Worldwide Developers Conference this month, Apple introduced HomeKit, its technology for linking and controlling smart home devices. HomeKit uses the iOS operating system, the software engine of iPhones and iPads. Quirky, a start-up that manufactures and sells products based on crowdsourced ideas, on Monday announced the creation of a separate software company, Wink. Its initiative has attracted the backing of a major retailer, Home Depot, and manufacturers like General Electric, Honeywell and Philips.

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Photo courtesy: flickr/jbritton

What is Google Up to With Nest Labs?

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Ron Callari of Inventor Spot recently wrote, “OK, so a $3.2 billion acquisition is nothing to sneeze at! However, when your current stock price on the Nasdaq exchange is trading at $1148 per share, and your coffers are overflowing in excess of $57 billion in cash and marketable securities – $3.2 is more or less chump change for an Internet giant. But exactly what’s Google’s end game in acquiring a company that few of us knew about? Nest, according to Tony Fadell, its founder and CEO was started humbly with one device in 2010 – the lowly unglamorous thermostat. While it seemed like ‘a crazy idea at the time – it made all the sense in the world to us,’ Faddell asserted.” Read more

Google Purchases Nest Labs for $3.2 Billion

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Nathan Ingraham of The Verge reports, “Google has just purchased Nest Labs, the maker of the Nest Learning Thermostat and Protect smoke detector, for $3.2 billion in cash. According to a Google press release, Nest will continue to operate independently under the leadership of co-founder and CEO Tony Fadell; co-founder Matt Rogers will also make the move to Google. While the transaction is subject to the usual regulatory review, Google says it expects the sale to close within the next few months. Google Ventures had already invested over $100 million in Nest, so the company has been on Mountain View’s radar for some time now. It’s not yet clear exactly how Google plans to use Nest, but the company obviously sees it as an important part of its future. A combination of Nest’s home solutions coupled with Google’s language recognition could give Google its strongest path yet into your home.” Read more