Google Moves Another Step Closer To "Connected Home" With Nest Buyout
The team will be lead under the leadership of Fadell popularly known as the “godfather of the iPod” Apple’s most courted make. Techies and designers from Silicon Valley counting to 280 in number are employed in Nest. The startup received its rounds of funding from Kleiner Perkins, Lightspeed Venture Partners, Google Ventures and Shasta Ventures.
Shyam Patil, an analyst at Wedbush said "Home automation is one of the bigger opportunities when you talk about the internet of everything and connecting everything. This acquisition furthers their strategy around that." The deal is considered to be the second highest deal after the acquisition of Motorola for $12 billion.
Larry Page, CEO of Google commented “Nest’s founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!”
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