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Google’s $3.2B Nest acquisition is a done deal

Above: The Nest learning thermostat

Image Credit: Devindra Hardawar/VentureBeat

Nest is now officially owned by Google.

Google finalized its $3.2 billion acquisition of the smart thermostat company on February 7, a 10K filing revealed today.

Now that the deal is done, Google and Nest can finally start working on new projects — though it will likely be some time before we hear about any of them. Nest is known for its smart home gadgets, but a recent report from TechCrunch claims that it may end up serving as Google’s core hardware group. Given that gadget hardware has historically been a weak point for Google (for the most part, it relies on established manufacturers), it could certainly use the help.

Nest was cofounded by former Apple executive Tony Fadell, who worked on the iPod and iPhone. The company also attracted plenty of ex-Apple engineers (who likely didn’t expect to end up working for Google).

While Nest seems like Google’s key to the connected home, the company’s hardware talents could help Google when it comes to wearables and mobile devices, too.

Via Re/Code

More information:

The creator of the world’s first learning thermostat, Nest Labs is focused on reducing home-energy consumption. The Nest Learning Thermostat learns about you and your home to automatically turn itself down when you're away, guide you... read more »

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