Google gets ready for demand on IoT with Nest

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Google gets ready for demand on IoT with Nest 
It seems the search giant Google(NASDAQ:GOOG) is all set for yet another major acquisition. According to a latest announcement made by Google, the company has announced its plans to acquire Nest Labs.

Formed in 2010 and based in Palo Alto, California, Nest Labs is a maker of smart thermostats and smoke alarms. If reports are to be believed, Google has to pay $3.2 billion to Nest Labs for acquiring its hundred percent stakes. The company employed about 280 people as of October 2013. It gained a large following with its first product, the Nest Learning Thermostat, in 2011.

According to a spokesperson from Google, “Nest will continue to operate under the leadership of Chief Executive Officer Tony Fadell.”

Market watchers believe that the latest acquisition will help Google to expand its portfolio of devices......See More

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