Google has acquired Nest Labs, a US start-up that designs and distributes smart home technology hardware, namely thermostats and smoke detectors. The deal has been reported to be worth $3.2bn, which equates to about just under 6% of Google’s cash.
Nest was founded by Tony Fadell, one of the leading minds behind Apple’s iPod. The engineer thought that the deal with Google would allow his business to grow in scale and expand in infrastructure, while he could then focus on…
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