Google To Pay $3.2B To Acquire Nest Labs

Law360, New York (January 13, 2014, 5:54 PM EST) -- Google Inc. will buy Nest Labs Inc. for $3.2 billion in cash, the companies said Monday, in a deal that gives Google a burgeoning business dedicated to reinventing and modernizing products such as the thermostat and smoke alarm.

The deal is expected to close within the next few months. According to a Monday blog post from Nest co-founder and CEO Tony Fadell, the company's partnership with Google will help Nest grow and will provide it with an immediate boost.

"When Matt [Rogers] and I started Nest...
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