Google buys Nest labs for $3.2 billion

MOUNTAIN VIEW, CA: Google managed to acquire Nest for $3.2 billion, a company co-founded by Tony Fadell, who was the co-creator of the original iPod back at Apple in the early 2000s.

Google plans on retaining the Nest brand as a separate entity and the search giant expects the transaction to complete in the next few months, subject to regulatory approvals.

Nest is a unique tech company and is the maker of the Nest learning thermostat and Protect smoke detector. One is not sure how nest will fit into Google, but it remains an intriguing purchase.

Google will help us fully realise our vision of the conscious home and allow us to change the world faster than we ever could if we continued to go it alone. "We've had great momentum, but this is a rocket ship." writes Fadell on the Nest blog.

Nest will continue to sell its products at Apple stores and its products will continue to maintain compatibility with iOS based devices.

Google CEO, Larry Page, issued a statement: "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. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!"