Google's big new purchase - a thermostat company
I don’t know about you, but I can’t get very excited about thermostats and smoke alarms. But not so Google, who have just bought Nest Labs – makers of very swish looking and wifi connected home gadgets – for a whopp-a-doodlin’ 3.2 billion dollars, making it their second biggest acquisition to date.
But they may be onto something. Nest Labs were set up by a guy called Tony Fadell, who invented a little thing called THE iPOD. Now this most celebrated of engineers has taken that same simple, clean aesthetic and applied it to some of your home’s most boring appliances. And by allowing you to control them through wifi on your phone or laptop, he’s managed to build a very lucrative business indeed.
Larry Page, CEO of Google, is delighted by his new purchase, which will involve Google in the new wave of wifi-controlled Internet of Things things.
Tony Fadell is probably pretty pleased as well. His Super Squirrel saving account is set to receive quite a big deposit from Google. But he doesn’t really care about that. Apparently he admits that the iPod and Nest Labs have already ‘made me so rich that I don’t need to work again.’
*sadly presses red button on £3.99 smoke alarm*