From DailyTech: Google acquired Nest Labs back in January in an all-cash deal valued at $3.2 billion. Now, thanks to the deep pockets of its parent company, Nest Labs has acquired Dropcam for a reported $555 million.
News of the deal first surfaced nearly a month ago following reports that Google was looking to expands its advertising reach to various consumer markets including “refrigerators, car dashboards, thermostats, glasses, and watches.”
Nest Labs co-founder Matt Rogers said in a blog post that it was a big decision to nab Dropcam, but that it “wasn’t a difficult one to make.” Feeling that Nest Labs and Dropcam are kindred spirits, Rogers lavished praise on the company, stating:
Dropcam built their company from the ground up with the goal of helping people stay connected to the things they care about. In a matter of a few short years, their team has managed to create products that change how people interact with their homes. So naturally, we couldn’t help but feel our companies would be a good match.
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