Google completes Nest acquisition


Google is now officially the owner of Nest Labs. After the deal received early FTC approval last week, Google closed the acquisition on Friday and revealed the finalized purchase in a filing today with the US Securities and Exchange Commission. Google announced its deal to purchase Nest for $3.2 billion almost exactly one month ago. At the time, it said the deal would likely close in the next few months, but the FTC cleared the way for it to close sooner than expected by waiving a regular waiting period.

Under Google, Nest will continue to operate with a degree of independence, though it won't be kept completely separate like Motorola was. Both companies maintain that the deal will help Nest scale its business of making smart home products. Whether — or perhaps more aptly, when — Google's software or services will end up on Nest devices, neither company has spoken to yet. But with Motorola now nearly a piece of Google's past, Nest will be its key presence in the hardware world — even its focus is far different from what Google is known for.

The Verge
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