Google-owned Smart thermostat and smoke alarm maker Nest Labs is shelling out $555 million to acquire video monitoring company Dropcam in a bid to further its footprint into the home.
The purchase will broaden Nest’s scope into the home surveillance arena. Nest founder Matt Rogers described Dropcam as having “the best products, services, and customer experience in the business.” “Dropcam lets you check in on your home, no matter where you are in the world. But that’s not the only reason we’re excited about adding them to the Nest family. Our companies actually have a lot in common,” Rogers said in a blog post.
Dropcam products will continue to be sold both in stores and online and Dropcam customers can continue to use their accounts. Once the deal closes, however, Dropcam will be incorporated into Nest.
Nest was purchased by Google back in February for $3.2 billion. The Silicon Valley company, co-founded by former Apple employee Tony Fadell, focuses on reinventing unloved but important devices in the home. Since Nest launched in 2011, its learning thermostat has been a constant best seller.
Source: sitepronews.com
