Internet giant Google has acquired Nest Labs, a company that makes intelligent home appliances that you can control with apps from your smartphone for $3.2 billion in cash.Nest Labs has made smart products like Nest Learning Thermostat and a Protect (Smoke + CO Alarm). According to the deal the company will continue to function as a separate entity under the leadership of Tony Fadell. The acquisition will take a few months to process pending regulatory approval and other customary closing conditions.
Google is acquiring next-generation tech startups and has bought eight robotics companies in the last six months. The search giant recently bought military robot maker Boston Dynamics. The company is known for its products like BigDog- a motorized robot that can handle ice and snow, Cheetah-an animal-like robot developed to run at high speeds, and a humanoid designed to work outdoors called Petman. The financial details of the deal has not been disclosed yet.
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